Royal Bank of Canada Trims Position in GoDaddy Inc. $GDDY

Royal Bank of Canada lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 480,592 shares of the technology company’s stock after selling 16,420 shares during the quarter. Royal Bank of Canada owned approximately 0.34% of GoDaddy worth $86,574,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake 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 worth $3,266,697,000 after purchasing an additional 462,807 shares during the period. WCM Investment Management LLC boosted its holdings in GoDaddy by 2.0% in the first quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company’s stock valued at $620,931,000 after acquiring an additional 67,152 shares during the last quarter. Invesco Ltd. boosted its holdings in GoDaddy by 13.8% in the first quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company’s stock valued at $597,317,000 after acquiring an additional 401,918 shares during the last quarter. Wellington Management Group LLP boosted its holdings in GoDaddy by 13.4% in the first quarter. Wellington Management Group LLP now owns 3,147,646 shares of the technology company’s stock valued at $567,017,000 after acquiring an additional 371,188 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted 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 valued at $439,525,000 after acquiring an additional 710,842 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.6%

NYSE:GDDY opened at $143.48 on Thursday. The business’s 50-day moving average is $159.34 and its two-hundred day moving average is $171.96. 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 Inc. has a 12 month low of $132.51 and a 12 month high of $216.00. The firm has a market capitalization of $19.86 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.60 and a beta of 1.02.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GDDY shares. Wells Fargo & Company reduced their target price on GoDaddy from $198.00 to $157.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada reduced their target price on GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Raymond James Financial reduced their target price on GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating on the stock in a report on Friday, August 8th. Piper Sandler set a $182.00 target price on GoDaddy and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Barclays reduced their target price on GoDaddy from $235.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.43.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the sale, the chief operating officer directly owned 254,949 shares in the company, valued at $44,860,826.04. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 2,173 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the sale, the chief accounting officer owned 21,198 shares of the company’s stock, valued at $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,448 shares of company stock valued at $3,266,423 over the last ninety days. Insiders own 0.70% 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.