Royal London Asset Management Ltd. Has $11.83 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Royal London Asset Management Ltd. increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,958 shares of the technology company's stock after purchasing an additional 1,891 shares during the quarter. Royal London Asset Management Ltd.'s holdings in GoDaddy were worth $11,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GDDY. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the third quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. grew its position in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial acquired a new stake in GoDaddy during the 4th quarter valued at $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY stock traded down $1.24 during trading on Wednesday, reaching $182.95. The company had a trading volume of 1,344,965 shares, compared to its average volume of 1,496,006. The company has a market capitalization of $25.86 billion, a PE ratio of 28.36 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 $190.91 and its two-hundred day simple moving average is $183.77. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00.

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GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the sale, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Morgan Stanley increased their price target on shares of GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Jefferies Financial Group raised their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Piper Sandler upped their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Citigroup lifted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.