GoDaddy Inc. $GDDY Holdings Raised by Marshall Wace LLP

Marshall Wace LLP grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 161.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 504,282 shares of the technology company’s stock after acquiring an additional 311,308 shares during the period. Marshall Wace LLP’s holdings in GoDaddy were worth $90,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in GoDaddy by 3.5% during the second quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock valued at $3,378,310,000 after purchasing an additional 627,923 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GoDaddy by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock worth $677,726,000 after purchasing an additional 81,623 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of GoDaddy by 5.7% during the 2nd quarter. WCM Investment Management LLC now owns 3,670,677 shares of the technology company’s stock valued at $660,979,000 after buying an additional 199,459 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of GoDaddy by 13.8% during the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company’s stock valued at $597,317,000 after buying an additional 401,918 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of GoDaddy by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 3,147,646 shares of the technology company’s stock valued at $567,017,000 after buying an additional 371,188 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Phontip Palitwanon sold 969 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $123,973.86. Following the completion of the sale, the chief accounting officer owned 19,452 shares in the company, valued at $2,488,688.88. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the sale, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,218 shares of company stock worth $2,615,781 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GDDY shares. Evercore ISI reduced their target price on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, October 31st. Citigroup cut their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Morgan Stanley set a $159.00 price target on GoDaddy in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.14.

GoDaddy Stock Performance

Shares of GDDY opened at $128.43 on Friday. The company has a market capitalization of $17.36 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.45 and a beta of 0.95. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. The company’s fifty day moving average price is $130.85 and its 200 day moving average price is $151.63.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. As a group, analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.