DekaBank Deutsche Girozentrale Grows Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

DekaBank Deutsche Girozentrale lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,164 shares of the technology company’s stock after acquiring an additional 1,838 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in GoDaddy were worth $1,906,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its holdings in GoDaddy by 517.4% during the 4th 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 period. Starboard Value LP raised its holdings in shares of GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after acquiring an additional 1,973,118 shares in the last quarter. Norges Bank bought a new stake in shares of GoDaddy in the fourth quarter valued at about $116,303,000. Goldman Sachs Group Inc. lifted its stake in GoDaddy by 108.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company’s stock worth $116,903,000 after acquiring an additional 727,582 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in GoDaddy by 201.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,068,773 shares of the technology company’s stock worth $83,065,000 after acquiring an additional 713,798 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Down 2.6 %

NYSE:GDDY opened at $123.30 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The company has a market cap of $17.57 billion, a PE ratio of 12.87 and a beta of 1.12. The company’s 50 day moving average is $116.54 and its two-hundred day moving average is $101.59.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GDDY. Barclays upped their price target on shares of GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $124.00 target price on shares of GoDaddy in a report on Thursday, March 7th. Raymond James assumed coverage on GoDaddy in a report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price target on the stock. Piper Sandler upped their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, Morgan Stanley lifted their target price on GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $135.18.

Insider Activity

In related news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of GoDaddy stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the transaction, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction that occurred on 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 directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,234 shares of company stock valued at $13,534,946. Company insiders own 0.54% of the company’s stock.

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.