GoDaddy Inc. (NYSE:GDDY) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 17.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,650 shares of the technology company’s stock after selling 556 shares during the quarter. Motley Fool Asset Management LLC’s holdings in GoDaddy were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of GoDaddy by 88.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after purchasing an additional 561,614 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in GoDaddy by 3,382.2% during the 3rd quarter. Principal Financial Group Inc. now owns 546,359 shares of the technology company’s stock valued at $40,693,000 after purchasing an additional 530,669 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. Raymond James started coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Robert W. Baird increased their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. B. Riley lifted their target price on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Evercore ISI cut GoDaddy from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.18.

GoDaddy Stock Performance

GDDY stock opened at $124.95 on Friday. The firm has a 50 day moving average of $118.76 and a two-hundred day moving average of $104.78. GoDaddy Inc. has a 12 month low of $67.43 and a 12 month high of $127.15. The company has a market capitalization of $17.80 billion, a price-to-earnings ratio of 13.04 and a beta of 1.12. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. As a group, equities analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mark Mccaffrey sold 28,392 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $3,138,451.68. Following the completion of the transaction, the chief financial officer now directly owns 120,952 shares of the company’s stock, valued at $13,370,034.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold a total of 121,234 shares of company stock valued at $13,534,946 in the last three months. Company insiders own 0.54% of the company’s stock.

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.