abrdn plc Has $1.27 Million Stake in GoDaddy Inc. (NYSE:GDDY)

abrdn plc trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 17.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,598 shares of the technology company’s stock after selling 3,009 shares during the quarter. abrdn plc’s holdings in GoDaddy were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Select Equity Group L.P. grew its position in GoDaddy by 11.2% in the first quarter. Select Equity Group L.P. now owns 11,774,597 shares of the technology company’s stock valued at $913,944,000 after acquiring an additional 1,181,916 shares during the period. Capital International Investors grew its position in GoDaddy by 9.9% in the first quarter. Capital International Investors now owns 10,225,729 shares of the technology company’s stock valued at $793,244,000 after acquiring an additional 917,612 shares during the period. BlackRock Inc. grew its position in GoDaddy by 6.7% in the first quarter. BlackRock Inc. now owns 9,902,033 shares of the technology company’s stock valued at $768,597,000 after acquiring an additional 618,299 shares during the period. Janus Henderson Group PLC grew its position in GoDaddy by 2.0% in the first quarter. Janus Henderson Group PLC now owns 7,041,183 shares of the technology company’s stock valued at $546,537,000 after acquiring an additional 141,087 shares during the period. Finally, Ameriprise Financial Inc. grew its position in GoDaddy by 14.2% in the first quarter. Ameriprise Financial Inc. now owns 4,530,802 shares of the technology company’s stock valued at $351,680,000 after acquiring an additional 563,091 shares during the period. Institutional investors and hedge funds own 95.68% of the company’s stock.

In other news, CEO Amanpal Singh Bhutani sold 2,980 shares of the company’s stock in a transaction that occurred on Friday, July 2nd. The shares were sold at an average price of $88.69, for a total value of $264,296.20. Following the completion of the transaction, the chief executive officer now owns 156,094 shares in the company, valued at $13,843,976.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.

Several analysts have recently commented on GDDY shares. Barclays increased their target price on GoDaddy from $107.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, June 28th. Morgan Stanley started coverage on GoDaddy in a report on Monday, July 19th. They set an “equal weight” rating and a $95.00 target price on the stock. Wedbush increased their target price on GoDaddy from $92.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Rosenblatt Securities cut GoDaddy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a report on Thursday, August 5th. Finally, Piper Sandler cut GoDaddy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $100.00 to $85.00 in a report on Thursday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Buy” and an average price target of $97.92.

Shares of NYSE:GDDY opened at $71.12 on Friday. GoDaddy Inc. has a 52 week low of $68.66 and a 52 week high of $93.75. The company has a market capitalization of $12.03 billion, a PE ratio of 63.50, a PEG ratio of 1.98 and a beta of 0.98. The company has a 50 day moving average price of $75.84 and a two-hundred day moving average price of $80.13.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, August 4th. The technology company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.03). The company had revenue of $931.30 million during the quarter, compared to analyst estimates of $920.26 million. GoDaddy had a net margin of 5.43% and a negative return on equity of 277.41%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned ($4.06) EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 1.09 earnings per share for the current year.

GoDaddy Profile

GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons on January 1997 and is headquartered in Scottsdale, AZ.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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