GoDaddy Inc. (NYSE:GDDY) Holdings Raised by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 730 shares of the technology company’s stock after purchasing an additional 157 shares during the quarter. Fifth Third Bancorp’s holdings in GoDaddy were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rice Hall James & Associates LLC raised its position in GoDaddy by 49.4% in the first quarter. Rice Hall James & Associates LLC now owns 211,463 shares of the technology company’s stock worth $17,699,000 after acquiring an additional 69,944 shares in the last quarter. HighTower Advisors LLC raised its holdings in GoDaddy by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 16,959 shares of the technology company’s stock worth $1,422,000 after buying an additional 1,246 shares during the period. MetLife Investment Management LLC acquired a new stake in GoDaddy during the 1st quarter worth about $345,000. Rhumbline Advisers raised its holdings in GoDaddy by 3.2% during the 1st quarter. Rhumbline Advisers now owns 138,312 shares of the technology company’s stock worth $11,577,000 after buying an additional 4,315 shares during the period. Finally, Raymond James Trust N.A. raised its holdings in GoDaddy by 30.8% during the 1st quarter. Raymond James Trust N.A. now owns 3,212 shares of the technology company’s stock worth $269,000 after buying an additional 757 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research reports. Evercore ISI downgraded GoDaddy from an “outperform” rating to an “in-line” rating and upped their target price for the company from $100.00 to $110.00 in a report on Wednesday, February 14th. JPMorgan Chase & Co. upped their target price on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Robert W. Baird upped their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $124.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. Finally, UBS Group increased their price objective on GoDaddy from $110.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.18.

Insider Activity

In other news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the transaction, the chief executive officer now owns 394,423 shares in the company, valued at $43,599,518.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is owned by corporate insiders.

GoDaddy Stock Performance

GoDaddy stock opened at $125.16 on Thursday. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a fifty day moving average price of $115.87 and a two-hundred day moving average price of $100.85. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15. The firm has a market capitalization of $17.83 billion, a P/E ratio of 13.06 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. As a group, analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current fiscal 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.