JPMorgan Chase & Co. Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

JPMorgan Chase & Co. lessened its position in shares of GoDaddy Inc. (NYSE:GDDY) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,729,063 shares of the technology company’s stock after selling 210,136 shares during the period. JPMorgan Chase & Co. owned approximately 1.23% of GoDaddy worth $341,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the fourth quarter worth about $43,000. Rakuten Securities Inc. increased 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 acquiring an additional 165 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of GoDaddy in the 4th quarter valued at about $49,000. Finally, OFI Invest Asset Management bought a new stake in shares of GoDaddy during the 4th quarter valued at about $52,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Brian Sharples sold 500 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 $99,505.00. Following the sale, the director now owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. The trade was a 2.12 % 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 the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at approximately $66,300,778.53. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,480 shares of company stock valued at $3,816,029. Insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $178.89 on Monday. The stock has a market capitalization of $25.29 billion, a P/E ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The business’s 50 day simple moving average is $189.80 and its two-hundred day simple moving average is $184.41.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm 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%. Analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on GDDY. Piper Sandler upped their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Benchmark lifted their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Jefferies Financial Group raised their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.