GoDaddy Inc. $GDDY Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 47.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,532,548 shares of the technology company’s stock after purchasing an additional 1,128,646 shares during the period. Ameriprise Financial Inc. owned approximately 2.61% of GoDaddy worth $483,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GDDY. Norges Bank acquired a new stake in GoDaddy during the second quarter worth $341,588,000. Qube Research & Technologies Ltd lifted its stake in shares of GoDaddy by 2,289.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock valued at $157,305,000 after purchasing an additional 837,065 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GoDaddy by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock worth $3,378,310,000 after purchasing an additional 627,923 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of GoDaddy by 318.6% during the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after purchasing an additional 559,757 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GDDY. UBS Group reduced their price objective 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. Benchmark lowered their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Evercore set a $95.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Wells Fargo & Company reduced their price target on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada decreased their price objective on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” 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 assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $125.57.

Insider Buying and Selling at GoDaddy

In related news, CFO Mark Mccaffrey sold 17,406 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director owned 11,414 shares in the company, valued at approximately $991,420.04. This trade represents a 5.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GDDY opened at $81.18 on Monday. The stock’s 50-day moving average price is $97.46 and its 200 day moving average price is $120.63. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.72 and a beta of 0.96. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50.

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

GoDaddy 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.