Wellington Management Group LLP Sells 59,672 Shares of GoDaddy Inc. (NYSE:GDDY)

Wellington Management Group LLP lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,776,458 shares of the technology company’s stock after selling 59,672 shares during the quarter. Wellington Management Group LLP owned 1.96% of GoDaddy worth $547,990,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GDDY. State Street Corp increased its position in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after acquiring an additional 147,105 shares during the last quarter. 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 purchasing an additional 84,550 shares during the period. WCM Investment Management LLC grew its holdings in 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 valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter worth about $356,038,000. Finally, FMR LLC raised its position in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of analyst reports. Benchmark upped their target price on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Barclays lifted 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. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now directly owns 23,121 shares of the company’s stock, valued at $4,601,310.21. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Mccaffrey sold 5,500 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 $1,094,555.00. Following the completion of the sale, 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 sold a total of 19,480 shares of company stock worth $3,816,029 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Up 0.7 %

Shares of NYSE GDDY opened at $180.20 on Tuesday. GoDaddy Inc. has a 12-month low of $118.39 and a 12-month high of $216.00. The stock’s fifty day simple moving average is $189.38 and its two-hundred day simple moving average is $184.61. The stock has a market capitalization of $25.47 billion, a PE ratio of 27.94 and a beta of 1.25. 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 (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 the consensus estimate 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 20.49% and a return on equity of 176.06%. As a group, analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy 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.