AIA Group Ltd Purchases 4,203 Shares of GoDaddy Inc. (NYSE:GDDY)

AIA Group Ltd lifted its position in GoDaddy Inc. (NYSE:GDDY) by 31.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,399 shares of the technology company’s stock after acquiring an additional 4,203 shares during the period. AIA Group Ltd’s holdings in GoDaddy were worth $3,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in GoDaddy by 18.9% in the third quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock worth $2,771,000 after buying an additional 2,803 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of GoDaddy by 20.5% during the third quarter. The Manufacturers Life Insurance Company now owns 90,810 shares of the technology company’s stock valued at $14,237,000 after acquiring an additional 15,452 shares in the last quarter. FMR LLC raised its holdings in GoDaddy by 19.8% in 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 last quarter. Glenmede Trust Co. NA lifted its position in GoDaddy by 41.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,086 shares of the technology company’s stock valued at $484,000 after acquiring an additional 902 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GoDaddy by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after purchasing an additional 203,909 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler raised 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Performance

NYSE GDDY opened at $178.89 on Monday. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25. The business has a 50-day moving average price of $189.80 and a 200-day moving average price of $184.41.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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 firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares of the company’s stock, valued at approximately $91,350,548.34. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,816,029 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

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.