Janus Henderson Group PLC Sells 551,397 Shares of GoDaddy Inc. (NYSE:GDDY)

Janus Henderson Group PLC reduced its position in GoDaddy Inc. (NYSE:GDDY) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,491,702 shares of the technology company’s stock after selling 551,397 shares during the quarter. GoDaddy makes up about 0.7% of Janus Henderson Group PLC’s portfolio, making the stock its 19th largest position. Janus Henderson Group PLC owned 4.62% of GoDaddy worth $1,281,265,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in shares of 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 worth $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Norges Bank bought a new position in GoDaddy during the fourth quarter worth $356,038,000. Canada Pension Plan Investment Board grew its holdings in GoDaddy by 107.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock worth $273,582,000 after purchasing an additional 719,000 shares during the period. Congress Asset Management Co. bought a new stake in GoDaddy in the fourth quarter valued at $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of GoDaddy by 88.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock valued at $213,630,000 after purchasing an additional 507,374 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Royal Bank of Canada lowered their target price on GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Citigroup cut their target price on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group decreased their price target on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley dropped their price objective on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $214.86.

GoDaddy Stock Performance

GDDY stock opened at $182.51 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market cap of $25.80 billion, a PE ratio of 28.30 and a beta of 1.13. The business has a 50 day moving average of $177.00 and a 200-day moving average of $188.02. GoDaddy Inc. has a 12-month low of $131.84 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.76 EPS. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This represents a 2.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 256,949 shares of the company’s stock, valued at $44,130,990.75. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,500 shares of company stock valued at $10,244,835. Company insiders own 0.61% of the company’s stock.

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.