Alta Capital Management LLC Reduces Position in GoDaddy Inc. (NYSE:GDDY)

Alta Capital Management LLC lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 28.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,709 shares of the technology company’s stock after selling 29,962 shares during the period. Alta Capital Management LLC’s holdings in GoDaddy were worth $15,140,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the 3rd quarter valued at approximately $27,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the 4th quarter valued at approximately $43,000. Huntington National Bank lifted its stake in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after acquiring an additional 230 shares during the period. Finally, Friedenthal Financial acquired a new stake in GoDaddy during the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $177.53 on Tuesday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a fifty day moving average of $197.96 and a two-hundred day moving average of $182.06. The stock has a market capitalization of $25.09 billion, a PE ratio of 27.52 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $108.38 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company 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%. As a group, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the sale, the chief operating officer now owns 182,632 shares of the company’s stock, valued at $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Phontip Palitwanon sold 1,554 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $203.90, for a total transaction of $316,860.60. Following the sale, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at $4,384,869.50. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,534 shares of company stock valued at $3,533,720 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on GDDY shares. Piper Sandler lifted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. UBS Group lifted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Finally, Jefferies Financial Group boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

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.