Prudential Financial Inc. grew its holdings in GoDaddy Inc. (NYSE:GDDY – Get Rating) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 180,674 shares of the technology company's stock after buying an additional 27,589 shares during the quarter. Prudential Financial Inc. owned approximately 0.12% of GoDaddy worth $13,024,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of GoDaddy by 49.5% in the third quarter. Russell Investments Group Ltd. now owns 313,546 shares of the technology company's stock valued at $22,224,000 after buying an additional 103,824 shares in the last quarter. Ieq Capital LLC increased its stake in shares of GoDaddy by 4.6% in the third quarter. Ieq Capital LLC now owns 3,247 shares of the technology company's stock valued at $230,000 after buying an additional 143 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of GoDaddy by 17.8% in the third quarter. The Manufacturers Life Insurance Company now owns 9,482 shares of the technology company's stock valued at $672,000 after buying an additional 1,434 shares in the last quarter. Counterpoint Mutual Funds LLC increased its stake in shares of GoDaddy by 96.8% in the third quarter. Counterpoint Mutual Funds LLC now owns 3,277 shares of the technology company's stock valued at $232,000 after buying an additional 1,612 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its stake in shares of GoDaddy by 1.3% in the third quarter. Hohimer Wealth Management LLC now owns 38,960 shares of the technology company's stock valued at $2,761,000 after buying an additional 494 shares in the last quarter. 97.32% of the stock is currently owned by institutional investors and hedge funds.
Get GoDaddy alerts:Insider Activity
In other news, insider Michele Lau sold 456 shares of GoDaddy stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $76.81, for a total transaction of $35,025.36. Following the transaction, the insider now owns 62,553 shares in the company, valued at approximately $4,804,695.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Nick Daddario sold 565 shares of GoDaddy stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $76.81, for a total value of $43,397.65. Following the sale, the chief accounting officer now owns 14,999 shares of the company's stock, valued at approximately $1,152,073.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele Lau sold 456 shares of GoDaddy stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $76.81, for a total value of $35,025.36. Following the completion of the sale, the insider now directly owns 62,553 shares in the company, valued at approximately $4,804,695.93. The disclosure for this sale can be found here. Insiders have sold 10,227 shares of company stock worth $769,489 in the last 90 days. Corporate insiders own 0.37% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on GDDY shares. Raymond James decreased their price target on GoDaddy from $100.00 to $88.00 and set a "strong-buy" rating on the stock in a report on Friday, November 4th. StockNews.com started coverage on GoDaddy in a report on Wednesday, October 12th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. started coverage on GoDaddy in a report on Friday, November 11th. They issued an "overweight" rating and a $89.00 price target on the stock. Jefferies Financial Group cut GoDaddy from a "buy" rating to a "hold" rating and set a $80.00 price target on the stock. in a report on Monday, January 9th. Finally, Evercore ISI upgraded GoDaddy from an "in-line" rating to an "outperform" rating and raised their price target for the company from $86.00 to $103.00 in a report on Wednesday, January 18th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $95.67.GoDaddy Trading Down 0.1 %
Shares of GDDY opened at $82.20 on Monday. GoDaddy Inc. has a 1 year low of $64.65 and a 1 year high of $88.32. The stock has a market cap of $12.77 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The stock's 50-day moving average price is $75.99 and its two-hundred day moving average price is $75.61.
GoDaddy (NYSE:GDDY – Get Rating) last issued its earnings results on Thursday, November 3rd. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. GoDaddy had a negative return on equity of 124.97% and a net margin of 8.49%. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.04 billion. As a group, equities analysts forecast that GoDaddy Inc. will post 2.22 EPS for the current year.
GoDaddy Profile
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GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons in January 1997 and is headquartered in Tempe, AZ.
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