Allianz SE Acquires New Stake in GoDaddy Inc. (NYSE:GDDY)

Allianz SE bought a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,340 shares of the technology company's stock, valued at approximately $467,000.

A number of other large investors have also modified their holdings of the stock. Allstate Corp acquired a new stake in GoDaddy in the fourth quarter valued at approximately $826,000. DnB Asset Management AS grew its holdings in GoDaddy by 1.8% during the 4th quarter. DnB Asset Management AS now owns 25,584 shares of the technology company's stock valued at $5,050,000 after purchasing an additional 463 shares in the last quarter. denkapparat Operations GmbH acquired a new stake in GoDaddy during the 4th quarter valued at $450,000. Pictet Asset Management Holding SA increased its stake in GoDaddy by 6.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 116,698 shares of the technology company's stock worth $23,033,000 after buying an additional 7,081 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP acquired a new position in GoDaddy in the 4th quarter worth $1,001,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Morgan Stanley raised their price objective on GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, Raymond James upped their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $213.20.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $13.33 during mid-day trading on Friday, hitting $164.34. The company had a trading volume of 2,818,421 shares, compared to its average volume of 1,433,424. GoDaddy Inc. has a 12 month low of $119.76 and a 12 month high of $216.00. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 25.48 and a beta of 1.25. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm's 50 day simple moving average is $186.96 and its two-hundred day simple moving average is $184.82.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares of the company's stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the sale, the chief operating officer now owns 257,949 shares in the company, valued at approximately $44,937,295.29. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,480 shares of company stock worth $3,643,589. Insiders own 0.61% of the company's stock.

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.