OFI Invest Asset Management Raises Stake in GoDaddy Inc. $GDDY

OFI Invest Asset Management increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 57.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 571 shares of the technology company’s stock after purchasing an additional 209 shares during the quarter. OFI Invest Asset Management’s holdings in GoDaddy were worth $103,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional acquired a new position in GoDaddy in the 1st quarter valued at about $92,000. Simon Quick Advisors LLC raised its stake in GoDaddy by 6.5% in the 1st quarter. Simon Quick Advisors LLC now owns 1,388 shares of the technology company’s stock valued at $250,000 after purchasing an additional 85 shares during the last quarter. Fifth Third Bancorp raised its stake in GoDaddy by 90.7% in the 1st quarter. Fifth Third Bancorp now owns 1,894 shares of the technology company’s stock valued at $341,000 after purchasing an additional 901 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company’s stock valued at $1,435,000 after purchasing an additional 67 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in GoDaddy by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company’s stock valued at $1,060,000 after purchasing an additional 699 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GDDY shares. Barclays cut their target price on shares of GoDaddy from $235.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Citigroup dropped their price objective on shares of GoDaddy from $234.00 to $214.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Wells Fargo & Company dropped their price objective on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. UBS Group dropped their price objective on shares of GoDaddy from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GoDaddy in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.00.

GoDaddy Stock Down 2.4%

NYSE GDDY opened at $130.62 on Monday. The stock has a market cap of $18.08 billion, a PE ratio of 23.33, a P/E/G ratio of 1.41 and a beta of 0.98. GoDaddy Inc. has a fifty-two week low of $130.17 and a fifty-two week high of $216.00. The business has a 50 day moving average price of $143.57 and a two-hundred day moving average price of $165.04. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33.

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 analysts’ consensus estimates of $1.34 by $0.07. The firm 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%.GoDaddy’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 777 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $110,497.17. Following the completion of the transaction, the chief accounting officer directly owned 20,421 shares in the company, valued at approximately $2,904,070.41. This represents a 3.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total value of $91,741.00. Following the transaction, the director owned 12,064 shares of the company’s stock, valued at approximately $1,702,712.96. This trade represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,203 shares of company stock worth $4,200,828. 0.70% of the stock is currently owned by insiders.

GoDaddy Company 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.