Vanguard Group Inc. Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Vanguard Group Inc. reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,671,407 shares of the technology company’s stock after selling 19,490 shares during the period. Vanguard Group Inc. owned about 0.13% of GoDaddy worth $3,487,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. WCM Investment Management LLC increased its stake 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 in the last quarter. Congress Asset Management Co. acquired a new position in shares of GoDaddy in the 4th quarter valued at $111,923,000. Amundi raised its stake in GoDaddy by 84.4% in the 4th quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after acquiring an additional 426,501 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in GoDaddy by 3,836.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after purchasing an additional 349,358 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s 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 transaction, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 over the last three months. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 0.3 %

GDDY stock opened at $184.00 on Wednesday. GoDaddy Inc. has a 12-month low of $118.39 and a 12-month high of $216.00. The business’s 50-day moving average is $190.91 and its 200 day moving average is $183.77. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The stock has a market cap of $26.01 billion, a price-to-earnings ratio of 28.53 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last issued its quarterly 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 for 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%. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GDDY. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Benchmark increased their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.