Massachusetts Financial Services Co. MA cut its holdings in GoDaddy Inc. (NYSE:GDDY – Free Report) by 61.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,853 shares of the technology company’s stock after selling 114,366 shares during the period. Massachusetts Financial Services Co. MA’s holdings in GoDaddy were worth $5,277,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GDDY. Morgan Stanley grew its holdings in shares of GoDaddy by 517.4% during the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock worth $458,311,000 after purchasing an additional 5,133,332 shares during the last quarter. BlackRock Inc. grew its holdings in shares of GoDaddy by 23.6% during the second quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company’s stock worth $790,556,000 after purchasing an additional 2,010,233 shares during the last quarter. Starboard Value LP grew its holdings in shares of GoDaddy by 23.9% during the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after purchasing an additional 1,973,118 shares during the last quarter. Norges Bank purchased a new position in shares of GoDaddy during the fourth quarter worth about $116,303,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of GoDaddy by 108.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company’s stock worth $116,903,000 after purchasing an additional 727,582 shares during the last quarter. Hedge funds and other institutional investors own 95.03% of the company’s stock.
GoDaddy Stock Up 0.3 %
Shares of NYSE:GDDY opened at $112.92 on Monday. The company has a market cap of $15.94 billion, a P/E ratio of 48.46 and a beta of 1.12. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $113.70. The company has a 50-day moving average price of $106.22 and a 200 day moving average price of $87.66.
Insider Activity at GoDaddy
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on GDDY shares. TheStreet upgraded shares of GoDaddy from a “c+” rating to a “b-” rating in a research note on Tuesday, November 21st. Piper Sandler upgraded shares of GoDaddy from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 9th. Benchmark increased their target price on shares of GoDaddy from $96.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Oppenheimer started coverage on shares of GoDaddy in a research note on Tuesday, October 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird increased their target price on shares of GoDaddy from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.88.
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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