International Assets Investment Management LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY) (2024)

International Assets Investment Management LLC bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,578 shares of the technology company’s stock, valued at approximately $1,972,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GDDY. Ameriprise Financial Inc. grew its stake in GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after acquiring an additional 561,614 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares during the period. Northern Trust Corp raised its position in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock valued at $103,946,000 after purchasing an additional 375,568 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of GoDaddy by 1.1% in the 3rd quarter. California Public Employees Retirement System now owns 924,488 shares of the technology company’s stock worth $68,856,000 after buying an additional 10,489 shares during the period. Finally, Fiera Capital Corp grew its position in shares of GoDaddy by 2.4% during the 3rd quarter. Fiera Capital Corp now owns 817,812 shares of the technology company’s stock worth $60,911,000 after buying an additional 19,391 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research reports. B. Riley upped their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Piper Sandler increased their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. William Blair restated an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.73.

View Our Latest Stock Report on GoDaddy

GoDaddy Price Performance

Shares of NYSE GDDY opened at $133.92 on Monday. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $133.98. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55. The company has a market cap of $19.08 billion, a PE ratio of 11.12 and a beta of 1.09. The business has a 50-day simple moving average of $121.76 and a two-hundred day simple moving average of $108.88.

GoDaddy (NYSE:GDDY – Get Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. As a group, equities analysts expect that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The disclosure for this sale can be found here. Insiders have sold 125,234 shares of company stock valued at $14,025,346 over the last ninety days. 0.54% of the stock is currently owned by insiders.

GoDaddy Profile

(Free Report)

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.

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