Vinva Investment Management Ltd Sells 46,858 Shares of GoDaddy Inc. (NYSE:GDDY)

Vinva Investment Management Ltd decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 37.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 76,876 shares of the technology company’s stock after selling 46,858 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.05% of GoDaddy worth $15,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GDDY. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter worth about $43,000. Rakuten Securities Inc. boosted its stake in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Huntington National Bank boosted its stake in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the period. Finally, Friedenthal Financial bought a new position in GoDaddy in the 4th quarter worth about $49,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of several analyst reports. Barclays raised their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Citigroup raised their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler raised their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Benchmark raised their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Seven investment 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $178.18 on Wednesday. The stock has a market cap of $25.19 billion, a PE ratio of 27.63 and a beta of 1.25. The company’s fifty day moving average is $192.25 and its 200 day moving average is $182.91. GoDaddy Inc. has a 52 week low of $118.14 and a 52 week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the sale, the chief operating officer now owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. The trade was a 0.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the sale, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,816,029 in 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.