Prudential Financial Inc. Sells 17,305 Shares of GoDaddy Inc. (NYSE:GDDY)

Prudential Financial Inc. lessened its position in GoDaddy Inc. (NYSE:GDDY) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,835 shares of the technology company’s stock after selling 17,305 shares during the period. Prudential Financial Inc. owned about 0.06% of GoDaddy worth $16,349,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares during the period. Geode Capital Management LLC boosted its stake in shares of GoDaddy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after acquiring an additional 84,550 shares during the period. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. FMR LLC raised its stake in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GoDaddy by 17.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after acquiring an additional 203,909 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’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 $597,030.00. Following the sale, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock valued at $3,816,029 over the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

GDDY opened at $183.02 on Friday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 52-week low of $118.39 and a 52-week high of $216.00. The firm has a market cap of $25.87 billion, a P/E ratio of 28.38 and a beta of 1.25. The business’s fifty day moving average is $190.24 and its 200-day moving average is $183.76.

GoDaddy (NYSE:GDDY) last announced 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). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

GDDY has been the topic of several research reports. Barclays upped their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group upped their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Company Profile

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.