Allianz SE Cuts Stock Position in GoDaddy Inc. $GDDY

Allianz SE trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 83.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 900 shares of the technology company’s stock after selling 4,570 shares during the quarter. Allianz SE’s holdings in GoDaddy were worth $162,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock worth $402,946,000 after acquiring an additional 1,610,890 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in GoDaddy by 41.1% in the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company’s stock worth $439,525,000 after purchasing an additional 710,842 shares during the last quarter. Pacer Advisors Inc. grew its holdings in GoDaddy by 893.4% in the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company’s stock worth $116,685,000 after purchasing an additional 582,539 shares during the last quarter. National Bank of Canada FI increased its position in shares of GoDaddy by 719.5% during the first quarter. National Bank of Canada FI now owns 538,514 shares of the technology company’s stock worth $97,008,000 after purchasing an additional 472,805 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock valued at $3,266,697,000 after purchasing an additional 462,807 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

NYSE:GDDY opened at $129.68 on Friday. The company has a 50 day moving average price of $136.30 and a 200-day moving average price of $157.79. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. GoDaddy Inc. has a 1-year low of $125.00 and a 1-year high of $216.00. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned $1.32 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $133.11, for a total transaction of $66,555.00. Following the completion of the sale, the director directly owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. This trade represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,950 shares of GoDaddy stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $988,359.50. Following the completion of the sale, the chief executive officer directly owned 412,065 shares of the company’s stock, valued at $58,599,763.65. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,553 shares of company stock valued at $2,825,527 in the last 90 days. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Benchmark dropped their target price on GoDaddy from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. B. Riley lowered their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 31st. Evercore ISI dropped their price target on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company decreased their price objective on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Finally, Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the stock an “overweight” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $184.07.

About GoDaddy

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.