Adage Capital Partners GP L.L.C. Sells 1,700 Shares of GoDaddy Inc. (NYSE:GDDY)

Adage Capital Partners GP L.L.C. cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,200 shares of the technology company's stock after selling 1,700 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of GoDaddy worth $25,895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC raised its stake in shares of GoDaddy by 28.7% in the third quarter. Barclays PLC now owns 447,425 shares of the technology company's stock worth $70,147,000 after acquiring an additional 99,734 shares during the last quarter. Te Ahumairangi Investment Management Ltd increased its holdings in shares of GoDaddy by 86.8% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company's stock valued at $2,340,000 after purchasing an additional 6,974 shares in the last quarter. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB acquired a new position in GoDaddy during the 3rd quarter worth $922,000. Finally, Tidal Investments LLC boosted its position in GoDaddy by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company's stock valued at $2,923,000 after buying an additional 5,205 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of recent research reports. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. B. Riley upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday. Finally, Citigroup reduced their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday. Eight investment 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 stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.60.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the transaction, the chief operating officer now owns 256,949 shares in the company, valued at approximately $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. Insiders sold a total of 19,000 shares of company stock valued at $3,518,150 in the last quarter. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Up 1.8 %

GDDY traded up $3.26 during trading on Tuesday, hitting $188.33. The company had a trading volume of 1,268,808 shares, compared to its average volume of 1,471,996. The company has a market capitalization of $26.62 billion, a PE ratio of 29.20 and a beta of 1.19. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a one year low of $120.59 and a one year high of $216.00. The firm's 50-day moving average price is $175.53 and its 200 day moving average price is $186.88.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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). The firm 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%. As a group, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.