Allianz Asset Management GmbH Sells 8,334 Shares of GoDaddy Inc. (NYSE:GDDY)

Allianz Asset Management GmbH trimmed its position in GoDaddy Inc. (NYSE:GDDYFree Report) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,537 shares of the technology company’s stock after selling 8,334 shares during the quarter. Allianz Asset Management GmbH’s holdings in GoDaddy were worth $3,348,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fiera Capital Corp lifted its holdings in shares of GoDaddy by 1.3% in the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after acquiring an additional 10,312 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in GoDaddy in the 4th quarter valued at approximately $4,204,000. International Assets Investment Management LLC acquired a new stake in GoDaddy in the fourth quarter valued at approximately $1,972,000. SG Americas Securities LLC grew its stake in shares of GoDaddy by 644.6% during the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after buying an additional 129,547 shares during the last quarter. Finally, Horrell Capital Management Inc. increased its holdings in shares of GoDaddy by 41.7% during the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after buying an additional 20,000 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GDDY shares. B. Riley raised their price objective on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Morgan Stanley boosted their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday, May 1st. Finally, William Blair restated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $149.92.

Get Our Latest Stock Analysis on GDDY

Insider Buying and Selling

In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $118.56, for a total transaction of $474,240.00. Following the transaction, the chief operating officer now owns 204,632 shares of the company’s stock, valued at approximately $24,261,169.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the transaction, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now owns 384,323 shares in the company, valued at $46,118,760. The disclosure for this sale can be found here. Insiders have sold a total of 32,217 shares of company stock valued at $4,244,035 over the last ninety days. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Performance

GDDY stock opened at $138.65 on Friday. The firm has a market cap of $19.78 billion, a PE ratio of 11.52 and a beta of 1.10. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a 50-day moving average price of $129.72 and a 200-day moving average price of $115.75. GoDaddy Inc. has a 1-year low of $69.18 and a 1-year high of $141.27.

GoDaddy (NYSE:GDDYGet Free Report) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, equities research analysts expect that GoDaddy Inc. will post 4.82 earnings per share for the current year.

About GoDaddy

(Free Report)

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.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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