Fifth Third Bancorp Buys 901 Shares of GoDaddy Inc. (NYSE:GDDY)

Fifth Third Bancorp boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 90.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,894 shares of the technology company’s stock after purchasing an additional 901 shares during the quarter. Fifth Third Bancorp’s holdings in GoDaddy were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA purchased a new stake in GoDaddy in the fourth quarter valued at about $7,916,000. Principal Securities Inc. raised its stake in GoDaddy by 54.0% in the fourth quarter. Principal Securities Inc. now owns 5,202 shares of the technology company’s stock valued at $1,027,000 after buying an additional 1,825 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in GoDaddy by 0.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,043 shares of the technology company’s stock valued at $9,680,000 after buying an additional 162 shares during the last quarter. Sanctuary Advisors LLC raised its stake in GoDaddy by 184.7% in the fourth quarter. Sanctuary Advisors LLC now owns 19,939 shares of the technology company’s stock valued at $4,258,000 after buying an additional 12,935 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in GoDaddy by 4.1% in the fourth quarter. CIBC Asset Management Inc now owns 21,969 shares of the technology company’s stock valued at $4,336,000 after buying an additional 856 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent research reports. Wall Street Zen cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Piper Sandler lifted their price target on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Citigroup lowered their price target on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.86.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $176.15 on Thursday. GoDaddy Inc. has a one year low of $135.73 and a one year high of $216.00. The business’s 50 day moving average price is $180.66 and its 200 day moving average price is $188.35. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 33.87 and a beta of 1.07. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $2.76 EPS. On average, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the completion of the transaction, the chief executive officer now directly owns 443,947 shares of the company’s stock, valued at approximately $79,843,867.95. This represents a 0.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $180.95, for a total value of $6,785,625.00. Following the transaction, the chief financial officer now directly owns 77,250 shares of the company’s stock, valued at approximately $13,978,387.50. This represents a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,632 shares of company stock worth $12,602,635. 0.61% of the stock is currently owned by company insiders.

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.