Epoch Investment Partners Inc. Purchases 236,732 Shares of GoDaddy Inc. (NYSE:GDDY)

Epoch Investment Partners Inc. increased its holdings in GoDaddy Inc. (NYSE:GDDYFree Report) by 128.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 420,847 shares of the technology company’s stock after acquiring an additional 236,732 shares during the period. Epoch Investment Partners Inc. owned about 0.30% of GoDaddy worth $44,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank purchased a new position in GoDaddy in the fourth quarter worth $181,687,000. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 3,402.0% in the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after buying an additional 928,273 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of GoDaddy by 7,379.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after buying an additional 714,075 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after buying an additional 695,897 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in GoDaddy by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after buying an additional 561,614 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of GDDY stock traded up $0.70 on Friday, reaching $139.36. The company’s stock had a trading volume of 1,126,950 shares, compared to its average volume of 1,411,158. The company has a market capitalization of $19.89 billion, a P/E ratio of 11.52 and a beta of 1.10. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $141.27. The stock’s 50 day simple moving average is $129.72 and its 200-day simple moving average is $115.75. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDYGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. As a group, equities analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 2,500 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 384,323 shares in the company, valued at $46,118,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $118.56, for a total value of $474,240.00. Following the completion of the sale, the chief operating officer now directly owns 204,632 shares in the company, valued at approximately $24,261,169.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 2,500 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $120.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 384,323 shares of the company’s stock, valued at approximately $46,118,760. The disclosure for this sale can be found here. Insiders sold a total of 32,217 shares of company stock worth $4,244,035 over the last three months. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GDDY. Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a research note on Wednesday, May 1st. Evercore ISI raised their target price on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. B. Riley boosted their target price on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Piper Sandler increased their price target on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, Robert W. Baird lifted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.92.

View Our Latest Report on GDDY

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.

See Also

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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