LPL Financial LLC Grows Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

LPL Financial LLC lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 26.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,789 shares of the technology company’s stock after purchasing an additional 17,680 shares during the quarter. LPL Financial LLC owned about 0.06% of GoDaddy worth $15,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in GoDaddy in the fourth quarter valued at approximately $44,668,000. Invesco Ltd. raised its holdings in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after buying an additional 304,033 shares during the period. FIL Ltd purchased a new stake in GoDaddy during the 4th quarter worth approximately $5,920,000. Advisory Services Network LLC acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $1,485,000. Finally, APG Asset Management N.V. boosted its position in GoDaddy by 62.0% during the 4th quarter. APG Asset Management N.V. now owns 207,930 shares of the technology company’s stock valued at $39,632,000 after purchasing an additional 79,549 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,173 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the sale, the chief accounting officer directly owned 21,198 shares in the company, valued at approximately $3,770,488.26. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 625 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total value of $110,675.00. Following the completion of the transaction, the chief financial officer directly owned 73,459 shares in the company, valued at approximately $13,008,119.72. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,257 shares of company stock valued at $5,827,280. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $225.00 target price on shares of GoDaddy in a report on Monday, June 23rd. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Citigroup dropped 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. Barclays lowered their price objective on GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Finally, Piper Sandler boosted their price objective on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.86.

GoDaddy Stock Up 0.9%

Shares of NYSE GDDY opened at $154.74 on Thursday. GoDaddy Inc. has a 52 week low of $148.55 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s fifty day moving average is $173.01 and its 200 day moving average is $180.68. The stock has a market capitalization of $22.05 billion, a P/E ratio of 29.76 and a beta of 1.08.

GoDaddy 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.