Corebridge Financial Inc. Has $7.34 Million Position in GoDaddy Inc. (NYSE:GDDY)

Corebridge Financial Inc. decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,182 shares of the technology company’s stock after selling 401 shares during the quarter. Corebridge Financial Inc.’s holdings in GoDaddy were worth $7,339,000 at the end of the most recent reporting period.

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

GoDaddy Price Performance

GDDY stock opened at $178.89 on Friday. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25. 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 company has a 50 day simple moving average of $189.80 and a 200 day simple moving average of $183.94. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the topic of several research reports. UBS Group upped their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays raised their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Benchmark boosted their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Piper Sandler raised their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is currently owned by insiders.

GoDaddy 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.