Amundi Grows Position in GoDaddy Inc. (NYSE:GDDY)

Amundi raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 84.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 931,874 shares of the technology company's stock after acquiring an additional 426,501 shares during the quarter. Amundi owned approximately 0.66% of GoDaddy worth $183,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GDDY. Principal Financial Group Inc. raised its stake in GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock valued at $31,052,000 after purchasing an additional 6,424 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in shares of GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company's stock valued at $3,172,000 after buying an additional 3,631 shares during the period. Crossmark Global Holdings Inc. boosted its position in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock worth $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its position in GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock worth $9,410,000 after acquiring an additional 17,021 shares during the last quarter. Finally, Fiduciary Alliance LLC purchased a new stake in GoDaddy in the 4th quarter worth approximately $1,045,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Up 2.0 %

Shares of GoDaddy stock opened at $175.52 on Monday. GoDaddy Inc. has a twelve month low of $113.01 and a twelve month high of $216.00. The company has a fifty day moving average price of $195.50 and a 200 day moving average price of $182.38. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 27.21 and a beta of 1.25.

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GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 analysts' expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the sale, the director now directly owns 23,121 shares of the company's stock, valued at $4,601,310.21. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the transaction, the chief operating officer now directly owns 184,632 shares of the company's stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,480 shares of company stock valued at $3,849,169. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GDDY. B. Riley increased their price target on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Jefferies Financial Group increased their target price on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Robert W. Baird upped their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Finally, Barclays raised their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.20.

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.

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