Allianz SE Takes $467,000 Position in GoDaddy Inc. (NYSE:GDDY)

Allianz SE acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,340 shares of the technology company’s stock, valued at approximately $467,000.

A number of other large investors also recently modified their holdings of GDDY. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter worth approximately $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the fourth quarter worth about $43,000. Rakuten Securities Inc. raised its holdings in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of GoDaddy during the 4th quarter valued at $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy during the fourth quarter valued at $52,000. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 in the last three months. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

NYSE:GDDY opened at $178.89 on Monday. The firm’s fifty day moving average price is $189.80 and its two-hundred day moving average price is $184.41. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market cap of $25.29 billion, a P/E ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. B. Riley raised their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Benchmark boosted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley raised their target price on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.