Franklin Resources Inc. Raises Stock Position in GoDaddy Inc. (NYSE:GDDY)

Franklin Resources Inc. grew its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 417,902 shares of the technology company's stock after buying an additional 38,511 shares during the period. Franklin Resources Inc. owned 0.30% of GoDaddy worth $68,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC increased its holdings in shares of GoDaddy by 38.7% in the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company's stock valued at $2,923,000 after purchasing an additional 5,205 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of GoDaddy in the 3rd quarter worth $922,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $31,000. Te Ahumairangi Investment Management Ltd boosted its position in shares of GoDaddy by 86.8% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company's stock valued at $2,340,000 after acquiring an additional 6,974 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of GoDaddy by 7.0% in the third quarter. TD Private Client Wealth LLC now owns 8,197 shares of the technology company's stock valued at $1,285,000 after purchasing an additional 539 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Down 0.8 %

Shares of GDDY traded down $1.57 during mid-day trading on Tuesday, hitting $207.46. 988,278 shares of the company's stock were exchanged, compared to its average volume of 1,456,089. The stock's 50-day moving average is $181.71 and its 200-day moving average is $161.08. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $99.90 and a fifty-two week high of $211.11. The company has a market cap of $29.13 billion, a price-to-earnings ratio of 15.99 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 2,678 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $526,601.92. Following the transaction, the chief financial officer now owns 89,800 shares of the company's stock, valued at $17,658,272. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the sale, the chief accounting officer now directly owns 21,505 shares of the company's stock, valued at $4,384,869.50. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,503 shares of company stock worth $3,950,683. Company insiders own 0.61% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on GDDY. B. Riley boosted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Barclays increased their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Robert W. Baird lifted their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $181.57.

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.