GoDaddy Inc. (NYSE:GDDY) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,423,622 shares of the technology company's stock after purchasing an additional 84,550 shares during the quarter. Geode Capital Management LLC owned 2.44% of GoDaddy worth $535,153,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC purchased a new position in shares of GoDaddy in the second quarter valued at $32,000. Swedbank AB increased its holdings in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company's stock worth $21,425,000 after buying an additional 5,247 shares during the last quarter. Blue Trust Inc. raised its position in shares of GoDaddy by 336.0% during the 2nd quarter. Blue Trust Inc. now owns 545 shares of the technology company's stock valued at $76,000 after buying an additional 420 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of GoDaddy by 9.0% in the 2nd quarter. Raymond James & Associates now owns 203,424 shares of the technology company's stock valued at $28,420,000 after acquiring an additional 16,737 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in GoDaddy by 4.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 10,040 shares of the technology company's stock worth $1,403,000 after acquiring an additional 432 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Down 1.0 %

Shares of GDDY traded down $2.18 during trading hours on Friday, hitting $206.73. The company had a trading volume of 784,906 shares, compared to its average volume of 1,460,180. GoDaddy Inc. has a one year low of $99.90 and a one year high of $210.30. The company's fifty day moving average price is $180.63 and its two-hundred day moving average price is $160.28. The company has a market capitalization of $29.02 billion, a PE ratio of 15.98 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at $28,551,961.44. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the sale, the chief financial officer now directly owns 93,102 shares of the company's stock, valued at approximately $14,486,671.20. This represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,503 shares of company stock valued at $4,102,853 in the last ninety days. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GDDY. Robert W. Baird boosted 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. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.57.

About GoDaddy

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.