Intech Investment Management LLC Trims Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Intech Investment Management LLC lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 23.7% in the fourth quarter, HoldingsChannel reports. The firm owned 193,211 shares of the technology company’s stock after selling 60,156 shares during the quarter. GoDaddy makes up approximately 1.1% of Intech Investment Management LLC’s holdings, making the stock its 28th biggest holding. Intech Investment Management LLC’s holdings in GoDaddy were worth $38,134,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in GoDaddy in the 4th quarter worth approximately $25,554,000. CWA Asset Management Group LLC boosted its stake 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 worth $3,172,000 after buying an additional 3,631 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its holdings in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after buying an additional 17,021 shares during the period. Fiduciary Alliance LLC purchased a new position in shares of GoDaddy during the 4th quarter worth about $1,045,000. Finally, Mount Yale Investment Advisors LLC boosted its position in shares of GoDaddy by 205.3% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 3,783 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Up 2.2 %

Shares of GDDY stock opened at $179.97 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 1 year low of $117.33 and a 1 year high of $216.00. The firm’s fifty day simple moving average is $192.60 and its 200 day simple moving average is $182.83. The firm has a market capitalization of $25.44 billion, a P/E ratio of 27.90 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now owns 23,121 shares in the company, valued at $4,601,310.21. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,480 shares of company stock worth $3,641,819 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GDDY shares. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Citigroup lifted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. UBS Group increased their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley boosted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

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.