Capital Research & Management Co recently announced the acquisition of new stake in GoDaddy Inc. (NYSE:GDDY). The institutional investor has increased its shareholding in the Technology company by 0.34% to 13.71 million shares with purchase of 45945.0 shares. This fresh investment now brings its stake to 8.93% valued currently at $1.04 billion. In addition, Columbia Management Investment Ad raised its holdings by 92440.0 to 4.65 million shares.
With over 1.71 million GoDaddy Inc. (GDDY) shares trading Friday and a closing price of $71.54 on the day, the dollar volume was approximately $122.1 million. The shares have shown a negative half year performance of -3.26% and its price on 05/19/23 lost nearly -1.24%. Currently, there are 154.12M common shares owned by the public and among those 152.29M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for GDDY have a consensus price objective of $89.42. The analysts have set the share’s price value over the next 12 months at a high of $103.00 and a low of $73.00. The average price target is 23.07% above its recent price level and an upside to the estimated low will see the stock gain 2.0% over that period. But an upside of 30.54% will see the stock hit the forecast high price target while median target price for the stock is $90.50.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 207,307 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 64,773 shares.
The top 3 mutual fund holders in GoDaddy Inc. are American Funds New Perspective Fu, Janus Henderson Enterprise Fund, and Vanguard Total Stock Market ETF. American Funds New Perspective Fu owns 7.89 million shares of the company’s stock, all valued at over $596.84 million. Vanguard Total Stock Market ETF sold 11756.0 shares to bring its total holdings to over 4.75 million shares at a value of $359.35 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.09% of the shares outstanding.
Shares of GoDaddy Inc. (NYSE: GDDY) opened at $72.38, down -$0.06 from a prior closing price of $72.44. However, the script later moved the day high at 72.38, down -1.24%. The company’s stock has a 5-day price change of 1.55% and -8.06% over the past three months. GDDY shares are trading -4.38% year to date (YTD), with the 12-month market performance up to 2.16% higher. It has a 12-month low price of $64.65 and touched a high of $85.32 over the same period. GDDY has an average intraday trading volume of 1.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.94%, -3.75%, and -5.84% respectively.
Institutional ownership of GoDaddy Inc. (NYSE: GDDY) shares accounts for 98.60% of the company’s 154.12M shares outstanding. Mutual fund holders own 5.97%, while other institutional holders and individual stakeholders account for 53.11% and 43.67% respectively.
It has a market capitalization of $11.19B and a beta (3y monthly) value of 0.98. The stock’s trailing 12-month PE ratio is 34.33, while the earnings-per-share (ttm) stands at $2.08. The company has a PEG of 1.84 and a Quick Ratio of 0.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.54% over the week and 2.23% over the month.
Analysts forecast that GoDaddy Inc. (GDDY) will achieve an EPS of $0.57 for the current quarter, $0.76 for the next quarter and $3.55 for 2024. The lowest estimate earnings-per-share for the quarter is $0.38 while analysts give the company a high EPS estimate of $0.64. Comparatively, EPS for the current quarter was $0.56 a year ago. Earnings per share for the fiscal year are expected to increase by 54.00%, and 46.41% over the next financial year. EPS should shrink at an annualized rate of 18.70% over the next five years, compared to 27.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate GoDaddy Inc. (GDDY) as a “Strong Buy” at a consensus score of 1.80. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 3 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
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