Rice Hall James & Associates LLC Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Rice Hall James & Associates LLC lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 44.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,990 shares of the technology company’s stock after selling 16,957 shares during the quarter. Rice Hall James & Associates LLC’s holdings in GoDaddy were worth $4,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC purchased a new position in GoDaddy in the 3rd quarter valued at $1,132,000. CWA Asset Management Group LLC grew its position in GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after buying an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings in shares of GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Down 14.1 %

Shares of NYSE GDDY opened at $182.58 on Tuesday. The firm’s 50-day moving average is $203.78 and its two-hundred day moving average is $180.59. The company has a market capitalization of $25.63 billion, a PE ratio of 14.11 and a beta of 1.15. GoDaddy Inc. has a 12-month low of $108.02 and a 12-month high of $216.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. Equities analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GDDY shares. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday. Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group boosted their target price 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. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,482 shares of company stock valued at $4,709,650 over the last quarter. Insiders own 0.61% 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.