Kennedy Capital Management LLC Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

Kennedy Capital Management LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,386 shares of the technology company’s stock after selling 9,566 shares during the quarter. Kennedy Capital Management LLC’s holdings in GoDaddy were worth $2,642,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its holdings in shares of GoDaddy by 28.7% in the 3rd quarter. Barclays PLC now owns 447,425 shares of the technology company’s stock valued at $70,147,000 after acquiring an additional 99,734 shares during the period. M&T Bank Corp increased its stake in GoDaddy by 1.5% in the third quarter. M&T Bank Corp now owns 9,539 shares of the technology company’s stock valued at $1,496,000 after purchasing an additional 145 shares during the period. Coldstream Capital Management Inc. purchased a new stake in shares of GoDaddy in the third quarter valued at about $314,000. Te Ahumairangi Investment Management Ltd raised its holdings in shares of GoDaddy by 86.8% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after buying an additional 6,974 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the third quarter worth about $31,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on GDDY shares. Citigroup upped their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group cut their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Benchmark increased their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $212.20.

GoDaddy Trading Up 1.8 %

NYSE GDDY opened at $172.06 on Monday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a one year low of $119.76 and a one year high of $216.00. The company’s 50 day moving average price is $180.85 and its 200 day moving average price is $185.53. The firm has a market capitalization of $24.32 billion, a price-to-earnings ratio of 26.68 and a beta of 1.19.

GoDaddy (NYSE:GDDY) last announced its quarterly 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,546,970 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

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.