GoDaddy Inc. (NYSE:GDDY) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 3,402.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 955,559 shares of the technology company’s stock after acquiring an additional 928,273 shares during the quarter. Federated Hermes Inc. owned 0.68% of GoDaddy worth $101,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of GDDY. Guidance Capital Inc. lifted its stake in GoDaddy by 9.6% during the fourth quarter. Guidance Capital Inc. now owns 3,380 shares of the technology company’s stock valued at $348,000 after buying an additional 297 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in GoDaddy during the fourth quarter valued at about $510,000. Lecap Asset Management Ltd. purchased a new stake in GoDaddy during the fourth quarter valued at about $2,328,000. Louisiana State Employees Retirement System purchased a new stake in GoDaddy during the fourth quarter valued at about $4,204,000. Finally, WCM Investment Management LLC lifted its stake in GoDaddy by 13.5% during the fourth quarter. WCM Investment Management LLC now owns 84,010 shares of the technology company’s stock valued at $8,935,000 after buying an additional 9,963 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GDDY. Raymond James began coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. UBS Group increased their price target on shares of GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Robert W. Baird increased their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Morgan Stanley increased their price target on shares of GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Piper Sandler increased their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.18.

GoDaddy Trading Down 0.9 %

NYSE:GDDY opened at $121.29 on Friday. The stock’s 50 day moving average price is $117.43 and its 200 day moving average price is $102.73. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15. The company has a market capitalization of $17.28 billion, a P/E ratio of 12.66 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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 negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. On average, research analysts forecast that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares in the company, valued at $23,806,997.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,234 shares of company stock worth $13,534,946. Insiders own 0.54% of the company’s stock.

About GoDaddy

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.