Sei Investments Co. Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Sei Investments Co. trimmed its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 209,081 shares of the technology company’s stock after selling 16,282 shares during the period. Sei Investments Co. owned approximately 0.15% of GoDaddy worth $41,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GDDY. Anchor Investment Management LLC purchased a new position in GoDaddy in the third quarter worth about $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy in the 4th quarter worth approximately $43,000. Rakuten Securities Inc. boosted its holdings in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 165 shares during the last quarter. Friedenthal Financial bought a new stake in GoDaddy during the fourth quarter valued at approximately $49,000. Finally, OFI Invest Asset Management purchased a new stake in GoDaddy during the fourth quarter valued at approximately $52,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GDDY shares. UBS Group lifted their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. JPMorgan Chase & Co. upped their price target on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, B. Riley boosted their price objective on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $213.20.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares in the company, valued at $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of 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 a total of 19,480 shares of company stock valued at $3,816,029 in the last quarter. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Performance

GDDY opened at $183.65 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 stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 28.47 and a beta of 1.25. The company has a fifty day moving average of $191.17 and a 200 day moving average of $183.53. GoDaddy Inc. has a fifty-two week low of $118.39 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY) last issued 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 firm had revenue of $1.19 billion for 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, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.