abrdn plc Has $5.45 Million Stake in GoDaddy Inc. (NYSE:GDDY)

abrdn plc increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 90.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,353 shares of the technology company’s stock after acquiring an additional 24,323 shares during the period. abrdn plc’s holdings in GoDaddy were worth $5,452,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. increased its holdings in shares of GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after acquiring an additional 928,273 shares during the last quarter. Sentry Investment Management LLC bought a new stake in GoDaddy during the 4th quarter valued at approximately $510,000. Lecap Asset Management Ltd. bought a new stake in GoDaddy during the 4th quarter valued at approximately $2,328,000. Louisiana State Employees Retirement System bought a new stake in GoDaddy during the 4th quarter valued at approximately $4,204,000. Finally, WCM Investment Management LLC boosted its stake in GoDaddy by 13.5% during the 4th quarter. WCM Investment Management LLC now owns 84,010 shares of the technology company’s stock valued at $8,935,000 after purchasing an additional 9,963 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent analyst reports. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Morgan Stanley increased 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. B. Riley increased their target price on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Piper Sandler increased their target price on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, Raymond James started coverage on GoDaddy in a research report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $135.18.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 28,392 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $3,138,451.68. Following the sale, the chief financial officer now directly owns 120,952 shares of the company’s stock, valued at $13,370,034.08. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock valued at $13,534,946 in the last three months. Corporate insiders own 0.54% of the company’s stock.

GoDaddy Trading Up 0.7 %

Shares of GDDY opened at $125.01 on Friday. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $127.15. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock has a 50 day simple moving average of $118.76 and a 200-day simple moving average of $104.98. The stock has a market cap of $17.81 billion, a PE ratio of 13.05 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, sell-side analysts predict 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.