Wellington Management Group LLP Has $444.65 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Wellington Management Group LLP reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,836,130 shares of the technology company's stock after selling 60,983 shares during the quarter. Wellington Management Group LLP owned about 2.02% of GoDaddy worth $444,648,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Federated Hermes Inc. boosted its stake 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 purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company's stock valued at $62,908,000 after buying an additional 384,386 shares during the period. Mizuho Securities USA LLC boosted its stake in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after acquiring an additional 350,839 shares during the last quarter. FMR LLC grew its holdings in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock worth $120,305,000 after acquiring an additional 235,934 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Down 0.9 %

Shares of GoDaddy stock traded down $1.98 during trading on Friday, reaching $206.56. The stock had a trading volume of 1,044,259 shares, compared to its average volume of 1,391,428. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $29.00 billion, a price-to-earnings ratio of 15.96 and a beta of 1.15. The stock has a fifty day moving average price of $175.50 and a two-hundred day moving average price of $158.09. GoDaddy Inc. has a 52 week low of $99.90 and a 52 week high of $210.30.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. Sell-side analysts predict that GoDaddy Inc. will post 4.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 2,976 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,925 shares of company stock worth $4,237,184. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GDDY has been the topic of several recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a report on Wednesday. B. Riley upped 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. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Finally, Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.