Shell Asset Management Co. Purchases 6,319 Shares of GoDaddy Inc. $GDDY

Shell Asset Management Co. increased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 37.6% in the second quarter, Holdings Channel reports. The institutional investor owned 23,135 shares of the technology company’s stock after buying an additional 6,319 shares during the period. Shell Asset Management Co.’s holdings in GoDaddy were worth $4,166,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in GoDaddy by 257.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock valued at $402,946,000 after purchasing an additional 1,610,890 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in GoDaddy by 1,412.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company’s stock valued at $242,727,000 after purchasing an additional 1,258,324 shares during the last quarter. JPMorgan Chase & Co. boosted its position in GoDaddy by 41.1% during the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company’s stock valued at $439,525,000 after purchasing an additional 710,842 shares during the last quarter. Pacer Advisors Inc. boosted its position in GoDaddy by 893.4% during the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company’s stock valued at $116,685,000 after purchasing an additional 582,539 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in GoDaddy by 719.5% during the first quarter. National Bank of Canada FI now owns 538,514 shares of the technology company’s stock valued at $97,008,000 after purchasing an additional 472,805 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $145.71, for a total transaction of $145,710.00. Following the transaction, the chief operating officer owned 251,949 shares in the company, valued at $36,711,488.79. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 777 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total value of $110,497.17. Following the transaction, the chief accounting officer owned 20,421 shares in the company, valued at approximately $2,904,070.41. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,203 shares of company stock worth $4,200,828. 0.70% of the stock is currently owned by insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $135.35 on Wednesday. The stock has a market cap of $18.74 billion, a P/E ratio of 24.17, a PEG ratio of 1.49 and a beta of 0.98. The stock has a 50 day simple moving average of $145.22 and a 200 day simple moving average of $166.21. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 1-year low of $131.29 and a 1-year high of $216.00.

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

Analysts Set New Price Targets

Several brokerages recently commented on GDDY. Raymond James Financial reduced their price target on GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada cut their price objective on GoDaddy from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Citigroup cut their price objective on GoDaddy from $234.00 to $214.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, UBS Group cut their price objective on GoDaddy from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.00.

GoDaddy Profile

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.