Assenagon Asset Management S.A. Acquires 185,349 Shares of GoDaddy Inc. $GDDY

Assenagon Asset Management S.A. grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 52.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 539,449 shares of the technology company’s stock after acquiring an additional 185,349 shares during the period. Assenagon Asset Management S.A. owned about 0.40% of GoDaddy worth $66,935,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in GoDaddy by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock valued at $2,587,754,000 after purchasing an additional 150,045 shares during the period. WCM Investment Management LLC boosted its stake in GoDaddy by 1.8% in the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock worth $529,395,000 after purchasing an additional 66,144 shares during the period. Ameriprise Financial Inc. boosted its stake in GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after purchasing an additional 1,128,646 shares during the period. JPMorgan Chase & Co. grew its holdings in GoDaddy by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company’s stock valued at $396,378,000 after buying an additional 53,811 shares in the last quarter. Finally, Norges Bank purchased a new stake in GoDaddy during the 2nd quarter valued at approximately $341,588,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of several research analyst reports. Jefferies Financial Group lowered their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. UBS Group reduced their price target on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Cantor Fitzgerald decreased their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Wells Fargo & Company reduced their target price on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $125.57.

Insider Activity

In related news, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at $10,056,136.97. This represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares in the company, valued at $47,175,378.80. This trade represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,918 shares of company stock worth $5,500,469 over the last 90 days. Insiders own 0.70% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $80.28 on Wednesday. The stock’s fifty day moving average is $93.01 and its 200 day moving average is $117.54. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55. The firm has a market capitalization of $10.70 billion, a PE ratio of 12.89, a PEG ratio of 0.74 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. GoDaddy’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.