Truist Financial Corp Raises Stake in GoDaddy Inc. (NYSE:GDDY)

Truist Financial Corp boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,254 shares of the technology company’s stock after acquiring an additional 1,500 shares during the period. Truist Financial Corp’s holdings in GoDaddy were worth $5,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GDDY. Quent Capital LLC lifted its holdings in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after acquiring an additional 53 shares during the period. Prime Capital Investment Advisors LLC grew its position in GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in GoDaddy by 13.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after acquiring an additional 88 shares in the last quarter. Avestar Capital LLC grew its position in GoDaddy by 4.5% in the fourth quarter. Avestar Capital LLC now owns 2,206 shares of the technology company’s stock valued at $435,000 after acquiring an additional 96 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after acquiring an additional 99 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares in the company, valued at approximately $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

GDDY stock opened at $173.82 on Friday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15. GoDaddy Inc. has a 1 year low of $108.38 and a 1 year high of $216.00. The stock’s fifty day moving average is $201.36 and its two-hundred day moving average is $181.13.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

GDDY has been the subject of several recent research reports. Citigroup increased their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. UBS Group raised their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $213.20.

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.