Allianz Asset Management GmbH Sells 77,965 Shares of GoDaddy Inc. (NYSE:GDDY)

Allianz Asset Management GmbH lowered its position in GoDaddy Inc. (NYSE:GDDY) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 755,584 shares of the technology company’s stock after selling 77,965 shares during the period. Allianz Asset Management GmbH’s holdings in GoDaddy were worth $149,130,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC raised its position in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Congress Asset Management Co. bought a new position in GoDaddy in the 4th quarter worth approximately $111,923,000. Mizuho Securities USA LLC raised its position in GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares during the last quarter. AustralianSuper Pty Ltd raised its position in GoDaddy by 3,836.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after purchasing an additional 349,358 shares during the last quarter. Finally, FMR LLC raised its position 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 purchasing an additional 274,014 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GDDY. Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. UBS Group lifted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Benchmark lifted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Raymond James lifted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Seven 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

Shares of GDDY stock opened at $176.56 on Friday. GoDaddy Inc. has a 12-month low of $108.02 and a 12-month high of $216.00. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 27.37 and a beta of 1.15. 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 fifty day moving average of $202.02 and a 200-day moving average of $180.74.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.18 billion. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the transaction, the chief executive officer now directly owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $98,885.00. Following the completion of the transaction, the director now directly owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,482 shares of company stock valued at $4,903,930 in the last quarter. Company insiders own 0.61% of the company’s stock.

GoDaddy Company 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.