Axa S.A. Raises Position in GoDaddy Inc. (NYSE:GDDY)

Axa S.A. grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 134.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 71,648 shares of the technology company’s stock after buying an additional 41,060 shares during the quarter. Axa S.A.’s holdings in GoDaddy were worth $14,141,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GDDY. Proficio Capital Partners LLC purchased a new stake in shares of GoDaddy during the 4th quarter worth $25,554,000. CWA Asset Management Group LLC increased its holdings in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after acquiring an additional 3,631 shares during the period. Fiduciary Alliance LLC purchased a new position in GoDaddy during the 4th quarter worth $1,045,000. Mount Yale Investment Advisors LLC increased its stake in GoDaddy by 205.3% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares during the period. Finally, Jones Financial Companies Lllp increased its position in GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock valued at $243,000 after acquiring an additional 499 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 3.5 %

NYSE:GDDY opened at $182.36 on Tuesday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a one year low of $124.83 and a one year high of $216.00. The business’s 50-day simple moving average is $176.54 and its 200 day simple moving average is $187.64. The stock has a market cap of $25.78 billion, a price-to-earnings ratio of 28.27 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $2.76 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada cut their price target on GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler increased their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research note on Monday, April 28th. Morgan Stanley lowered their target price on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.21.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares of the company’s stock, valued at approximately $35,481,744.96. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now directly owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,500 shares of company stock valued at $10,244,835. Insiders own 0.61% of the company’s stock.

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.