Vanguard Group Inc. Has $1.75 Billion Holdings in GoDaddy Inc. (NYSE:GDDY)

Vanguard Group Inc. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,733,764 shares of the technology company’s stock after buying an additional 379,228 shares during the period. Vanguard Group Inc. owned approximately 0.10% of GoDaddy worth $1,748,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC boosted its stake in GoDaddy by 143.3% during the 1st quarter. Intech Investment Management LLC now owns 16,489 shares of the technology company’s stock worth $1,957,000 after acquiring an additional 9,712 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of GoDaddy by 87.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,924 shares of the technology company’s stock worth $23,049,000 after purchasing an additional 89,316 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of GoDaddy in the 1st quarter valued at $216,000. Cumberland Partners Ltd bought a new stake in shares of GoDaddy in the 1st quarter valued at $1,187,000. Finally, Glaxis Capital Management LLC bought a new stake in shares of GoDaddy in the 1st quarter valued at $237,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Up 1.4 %

GDDY traded up $1.99 during trading on Monday, reaching $147.18. 342,359 shares of the stock were exchanged, compared to its average volume of 1,637,777. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s 50 day moving average price is $140.12 and its two-hundred day moving average price is $124.40. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $148.71. The stock has a market cap of $21.00 billion, a P/E ratio of 12.06 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Equities analysts expect that GoDaddy Inc. will post 4.81 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the completion of the transaction, the chief executive officer now directly owns 369,898 shares in the company, valued at approximately $51,386,230.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 7,600 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $138.92, for a total value of $1,055,792.00. Following the sale, the chief executive officer now owns 369,898 shares of the company’s stock, valued at approximately $51,386,230.16. The disclosure for this sale can be found here. Insiders have sold 50,071 shares of company stock worth $6,875,606 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GDDY shares. B. Riley boosted their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. increased their target price on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Morgan Stanley raised their target price on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a report on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.25.

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.