Allspring Global Investments Holdings LLC Grows Holdings in GoDaddy Inc. (NYSE:GDDY)

Allspring Global Investments Holdings LLC grew its stake in GoDaddy Inc. (NYSE:GDDY) by 13.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 264,807 shares of the technology company’s stock after acquiring an additional 31,708 shares during the period. Allspring Global Investments Holdings LLC owned about 0.19% of GoDaddy worth $52,673,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares during the period. Highland Capital Management LLC purchased a new stake in GoDaddy during the 3rd quarter worth approximately $1,132,000. CWA Asset Management Group LLC increased its stake in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares during the period. Crossmark Global Holdings Inc. increased its stake in GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its stake in GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GDDY. 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 research note on Thursday, October 31st. Piper Sandler upped their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Raymond James upped their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.53.

GoDaddy Trading Up 2.6 %

Shares of GoDaddy stock opened at $212.99 on Friday. The company has a fifty day simple moving average of $204.59 and a 200-day simple moving average of $179.30. GoDaddy Inc. has a 12-month low of $108.00 and a 12-month high of $216.00. 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 stock has a market cap of $29.90 billion, a price-to-earnings ratio of 16.46 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. On average, equities analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 2,678 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the sale, the chief financial officer now owns 89,800 shares of the company’s stock, valued at approximately $17,658,272. This represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,482 shares of company stock worth $4,709,650. Corporate insiders own 0.61% of the company’s stock.

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.