GoDaddy Inc. $GDDY Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 74.8% during the first quarter, Holdings Channel.com reports. The fund owned 92,078 shares of the technology company’s stock after selling 272,768 shares during the period. The Manufacturers Life Insurance Company’s holdings in GoDaddy were worth $7,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GoDaddy in the 4th quarter worth about $25,000. Rachor Investment Advisory Services LLC acquired a new stake in GoDaddy in the fourth quarter valued at approximately $25,000. Activest Wealth Management increased its position in shares of GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after buying an additional 180 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Key GoDaddy News

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Wedbush highlighted GoDaddy’s increasing use of large language models in its web-building ecosystem, suggesting AI could improve product development and strengthen the company’s competitive position. GoDaddy’s web-building ecosystem utilizes more LLMs in development process
• Positive Sentiment: Citigroup maintained a “buy” rating while lowering its price target to $105 from $110, leaving substantial implied upside. Separately, Zacks characterized GDDY as a strong momentum and growth stock. Citigroup price target update Zacks momentum analysis
• Positive Sentiment: A recent Seeking Alpha analysis argued that GoDaddy’s sticky small-business customer base, recurring free cash flow and aggressive share repurchases could support long-term shareholder returns despite AI-related concerns. GoDaddy: The Market Didn’t Get The Memo
• Neutral Sentiment: GoDaddy will present at the Oppenheimer Technology, Internet & Communications Conference on August 11. Investors may look for updates on demand, AI initiatives and the company’s outlook, but no new financial guidance was provided. GoDaddy conference presentation
• Neutral Sentiment: Analyst views remain mixed: Wedbush cut its target to $93 while retaining “outperform,” Raymond James moved the stock to “outperform,” and Cantor Fitzgerald and Evercore ISI maintained neutral or hold opinions. Analyst rating updates
• Negative Sentiment: Rosen Law Firm and Kaplan Fox announced investigations into potential securities-law violations and alleged misleading business disclosures. These announcements do not establish wrongdoing, but repeated notices can pressure the stock by increasing litigation uncertainty and reputational risk. Rosen Law Firm investigation Kaplan Fox investigation

GoDaddy Trading Up 1.1%

Shares of GoDaddy stock opened at $89.46 on Wednesday. The company has a debt-to-equity ratio of 561.10, a current ratio of 0.63 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $86.63 and its 200-day simple moving average is $88.35. The stock has a market cap of $11.85 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.80 and a beta of 0.90. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $158.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.14. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that GoDaddy Inc. will post 7.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDDY. Raymond James Financial cut shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 price target on the stock. in a research note on Friday, July 31st. Wells Fargo & Company dropped their target price on shares of GoDaddy from $83.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday. Benchmark cut their target price on shares of GoDaddy from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, July 31st. B. Riley Financial reduced their price target on shares of GoDaddy from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of GoDaddy to a “buy” rating in a research note on Friday. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.33.

Insider Activity

In other news, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares in the company, valued at $1,796,750.70. This trade represents a 2.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total transaction of $290,220.00. Following the sale, the chief financial officer directly owned 105,728 shares in the company, valued at approximately $8,766,965.76. The trade was a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,751 shares of company stock valued at $1,480,228 in the last ninety days. 0.93% of the stock is currently owned by company insiders.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.