First Republic Investment Management Inc. boosted its stake in GoDaddy Inc. (NYSE:GDDY – Free Report) by 47.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,154 shares of the technology company’s stock after acquiring an additional 9,393 shares during the quarter. First Republic Investment Management Inc.’s holdings in GoDaddy were worth $2,266,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Achmea Investment Management B.V. bought a new position in GoDaddy during the 1st quarter worth approximately $31,000. Ronald Blue Trust Inc. lifted its stake in GoDaddy by 119.4% during the first quarter. Ronald Blue Trust Inc. now owns 509 shares of the technology company’s stock worth $38,000 after purchasing an additional 277 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in GoDaddy in the first quarter worth $41,000. Penserra Capital Management LLC bought a new stake in GoDaddy during the fourth quarter valued at $62,000. Finally, Cutler Group LLC CA increased its stake in GoDaddy by 214.4% during the first quarter. Cutler Group LLC CA now owns 1,245 shares of the technology company’s stock valued at $96,000 after purchasing an additional 849 shares during the last quarter. Institutional investors and hedge funds own 95.03% of the company’s stock.
Insider Activity at GoDaddy
In other GoDaddy news, insider Michele Lau sold 5,500 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $70.49, for a total value of $387,695.00. Following the completion of the sale, the insider now directly owns 67,280 shares of the company’s stock, valued at approximately $4,742,567.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michele Lau sold 5,500 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $70.49, for a total transaction of $387,695.00. Following the completion of the sale, the insider now directly owns 67,280 shares of the company’s stock, valued at approximately $4,742,567.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Nick Daddario sold 342 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $73.57, for a total value of $25,160.94. Following the sale, the chief accounting officer now directly owns 19,689 shares in the company, valued at $1,448,519.73. The disclosure for this sale can be found here. Insiders sold 30,122 shares of company stock valued at $2,217,265 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.
GoDaddy Stock Up 0.6 %
GoDaddy (NYSE:GDDY – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. GoDaddy had a negative return on equity of 83.74% and a net margin of 7.78%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. On average, equities analysts expect that GoDaddy Inc. will post 2.81 EPS for the current year.
Analyst Upgrades and Downgrades
GDDY has been the subject of several research reports. StockNews.com raised shares of GoDaddy from a “hold” rating to a “buy” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating and set a $95.00 target price on shares of GoDaddy in a report on Tuesday, August 1st. Piper Sandler reissued a “neutral” rating and issued a $84.00 price target on shares of GoDaddy in a report on Friday, August 4th. Barclays reduced their price objective on GoDaddy from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Finally, B. Riley initiated coverage on GoDaddy in a research report on Wednesday, June 28th. They issued a “buy” rating and a $102.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.
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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.
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