GoDaddy Inc. (NYSE:GDDY) Holdings Cut by First Trust Advisors LP

First Trust Advisors LP cut its stake in GoDaddy Inc. (NYSE:GDDY) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 670,216 shares of the technology company’s stock after selling 56,513 shares during the quarter. First Trust Advisors LP’s holdings in GoDaddy were worth $132,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GDDY. GeoWealth Management LLC acquired a new stake in shares of GoDaddy during the 4th quarter valued at about $343,000. Brant Point Investment Management LLC grew its position in GoDaddy by 26.4% in the fourth quarter. Brant Point Investment Management LLC now owns 44,363 shares of the technology company’s stock worth $8,756,000 after acquiring an additional 9,263 shares in the last quarter. Capital International Ltd. CA increased its stake in shares of GoDaddy by 3.1% during the 4th quarter. Capital International Ltd. CA now owns 54,819 shares of the technology company’s stock worth $10,820,000 after purchasing an additional 1,667 shares during the last quarter. Capital Group Investment Management PTE. LTD. raised its holdings in shares of GoDaddy by 6.2% during the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 12,210 shares of the technology company’s stock valued at $2,410,000 after purchasing an additional 718 shares in the last quarter. Finally, Capital International Sarl lifted its stake in shares of GoDaddy by 7.1% in the 4th quarter. Capital International Sarl now owns 77,682 shares of the technology company’s stock valued at $15,332,000 after purchasing an additional 5,144 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Down 0.4 %

Shares of GDDY stock opened at $171.55 on Friday. The stock has a market cap of $24.25 billion, a P/E ratio of 26.60 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a fifty day moving average price of $177.13 and a 200 day moving average price of $185.93. GoDaddy Inc. has a one year low of $120.23 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last posted its earnings results 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the sale, the chief financial officer now owns 115,375 shares of the company’s stock, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, the chief operating officer now directly owns 256,949 shares in the company, valued at $44,130,990.75. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock valued at $3,518,150. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GDDY shares. Citigroup raised their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Morgan Stanley reduced their target price on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Jefferies Financial Group decreased their price objective on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company started coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Eight equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.73.

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.