Citigroup Inc. Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Citigroup Inc. lifted its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 26.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,228 shares of the technology company's stock after purchasing an additional 40,874 shares during the quarter. Citigroup Inc. owned 0.14% of GoDaddy worth $30,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. raised its stake in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock valued at $209,743,000 after buying an additional 394,399 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock worth $120,305,000 after purchasing an additional 235,934 shares during the period. Fiera Capital Corp grew its position in GoDaddy by 1.6% during the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company's stock valued at $115,725,000 after buying an additional 13,206 shares during the period. Envestnet Asset Management Inc. increased its holdings in GoDaddy by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 525,944 shares of the technology company's stock valued at $73,480,000 after buying an additional 11,121 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in GoDaddy by 57.2% in the second quarter. APG Asset Management N.V. now owns 499,990 shares of the technology company's stock worth $65,177,000 after acquiring an additional 181,944 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GDDY. Benchmark upped their price target on GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Royal Bank of Canada boosted their price objective on GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and a consensus price target of $173.31.

GoDaddy Trading Up 2.0 %

GDDY traded up $4.02 during trading hours on Tuesday, reaching $201.45. 843,860 shares of the company's stock traded hands, compared to its average volume of 1,458,679. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50-day moving average price of $167.56 and a 200 day moving average price of $154.07. GoDaddy Inc. has a 52-week low of $94.50 and a 52-week high of $202.56. The firm has a market capitalization of $28.28 billion, a PE ratio of 15.59 and a beta of 1.11.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $0.89 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares of the company's stock, valued at $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock worth $4,803,380 in the last ninety days. 0.61% of the stock is owned by insiders.

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.