ING Groep NV Acquires 31,589 Shares of GoDaddy Inc. (NYSE:GDDY)

ING Groep NV raised its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 94.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,154 shares of the technology company's stock after acquiring an additional 31,589 shares during the period. ING Groep NV's holdings in GoDaddy were worth $10,215,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company's stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company's stock worth $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock valued at $209,743,000 after acquiring an additional 394,399 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company's stock valued at $115,725,000 after acquiring an additional 13,206 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Activity at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,844 shares of company stock valued at $4,619,397 over the last ninety days. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays boosted 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. StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and an average price target of $171.38.

GoDaddy Stock Performance

Shares of GDDY stock traded down $2.34 on Friday, hitting $182.95. The company's stock had a trading volume of 1,354,913 shares, compared to its average volume of 1,462,919. The stock's 50 day moving average is $162.10 and its 200-day moving average is $150.60. GoDaddy Inc. has a fifty-two week low of $91.68 and a fifty-two week high of $190.21. The company has a market capitalization of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. 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 (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the business earned $0.89 earnings per share. GoDaddy's revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

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.