Prudential PLC Sells 14,194 Shares of GoDaddy Inc. (NYSE:GDDY)

Prudential PLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 23.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 46,935 shares of the technology company’s stock after selling 14,194 shares during the period. Prudential PLC’s holdings in GoDaddy were worth $9,264,000 as of its most recent filing with the SEC.

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

GoDaddy Stock Performance

GoDaddy stock opened at $164.34 on Friday. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. The firm’s fifty day moving average price is $186.96 and its 200-day moving average price is $184.82. The stock has a market cap of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. 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 (NYSE:GDDY) last issued 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). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several analyst reports. Piper Sandler increased their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Finally, B. Riley increased their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at $16,758,197.66. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares in the company, valued at $36,831,070.24. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,643,589 over the last quarter. 0.61% of the stock is owned by corporate insiders.

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.