Principal Financial Group Inc. Has $31.05 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Principal Financial Group Inc. lifted its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 198,058 shares of the technology company's stock after acquiring an additional 6,424 shares during the period. Principal Financial Group Inc. owned 0.14% of GoDaddy worth $31,052,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GDDY. ORG Wealth Partners LLC acquired a new position in GoDaddy in the 3rd quarter worth $30,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the second quarter worth approximately $28,000. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter worth $32,000. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the second quarter worth $36,000. Finally, Carolina Wealth Advisors LLC bought a new stake in GoDaddy during the third quarter valued at about $49,000. Institutional investors own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company's stock, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nick Daddario sold 684 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares of the company's stock, valued at approximately $2,783,599.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,344 shares of company stock worth $4,529,897. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GDDY shares. B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Robert W. Baird raised their price target on GoDaddy from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada lifted 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 analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $171.38.

GoDaddy Price Performance

GDDY stock traded up $4.10 during trading on Tuesday, hitting $187.23. 1,714,963 shares of the company's stock traded hands, compared to its average volume of 1,463,042. The stock has a market capitalization of $26.29 billion, a price-to-earnings ratio of 14.32 and a beta of 1.11. GoDaddy Inc. has a 52 week low of $87.16 and a 52 week high of $187.55. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The business has a fifty day simple moving average of $160.27 and a 200 day simple moving average of $149.65.

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 firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company's revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, research analysts expect that GoDaddy Inc. will post 4.95 EPS 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.