GoDaddy Inc. $GDDY Stock Holdings Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in GoDaddy Inc. (NYSE:GDDY) by 79.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 970,543 shares of the technology company’s stock after purchasing an additional 431,094 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GoDaddy were worth $80,235,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Sivia Capital Partners LLC raised its position in shares of GoDaddy by 90.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock valued at $589,000 after acquiring an additional 1,552 shares in the last quarter. Cerity Partners LLC lifted its stake in GoDaddy by 50.0% during the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after purchasing an additional 9,062 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock valued at $28,016,000 after purchasing an additional 70,585 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in GoDaddy during the second quarter valued at $152,000. Finally, Main Street Financial Solutions LLC raised its holdings in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sigal Zarmi sold 350 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the transaction, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares in the company, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Benchmark reduced their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Evercore set a $95.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Cantor Fitzgerald decreased their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Finally, Barclays lowered their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.43.

GoDaddy Stock Up 6.9%

GDDY stock opened at $81.34 on Thursday. The stock has a market cap of $10.77 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90. The firm’s 50-day simple moving average is $84.77 and its 200 day simple moving average is $94.92. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $181.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $1.51 EPS. GoDaddy’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that GoDaddy Inc. will post 7.13 EPS for the current year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.