Alberta Investment Management Corp Sells 14,400 Shares of GoDaddy Inc. (NYSE:GDDY)

Alberta Investment Management Corp trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 55.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,800 shares of the technology company's stock after selling 14,400 shares during the period. Alberta Investment Management Corp's holdings in GoDaddy were worth $2,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock valued at $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new position in GoDaddy in the third quarter worth $1,132,000. CWA Asset Management Group LLC grew its stake in GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company's stock valued at $3,172,000 after purchasing an additional 3,631 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock valued at $6,907,000 after purchasing an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its stake in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock worth $9,410,000 after purchasing an additional 17,021 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

NYSE GDDY traded down $2.75 during trading hours on Friday, hitting $173.82. The company had a trading volume of 1,477,403 shares, compared to its average volume of 1,434,149. The firm has a 50 day simple moving average of $201.36 and a 200 day simple moving average of $180.93. GoDaddy Inc. has a 52 week low of $108.38 and a 52 week high of $216.00. The firm has a market capitalization of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15. 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 - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler increased their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Barclays raised their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research note 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. Finally, StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued 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 $213.20.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now owns 342,956 shares of the company's stock, valued at $67,826,408.12. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing 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 dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the transaction, the chief operating officer now directly owns 182,632 shares of the company's stock, valued at $35,481,744.96. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,482 shares of company stock valued at $4,903,930 in the last three months. Company insiders own 0.61% of the company's stock.

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.