Bank of Montreal Can Sells 89,049 Shares of GoDaddy Inc. (NYSE:GDDY)

Bank of Montreal Can reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 41.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 124,366 shares of the technology company's stock after selling 89,049 shares during the period. Bank of Montreal Can owned 0.09% of GoDaddy worth $24,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GDDY. Anchor Investment Management LLC bought a new position in GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc bought a new position in GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. grew its holdings in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 165 shares during the period. Friedenthal Financial acquired a new stake in GoDaddy in the fourth quarter worth $49,000. Finally, OFI Invest Asset Management acquired a new position in shares of GoDaddy in the 4th quarter valued at $52,000. Institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

NYSE:GDDY traded up $3.67 during trading hours on Tuesday, hitting $175.32. The company's stock had a trading volume of 2,046,171 shares, compared to its average volume of 1,460,911. 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 market capitalization of $24.78 billion, a P/E ratio of 27.18 and a beta of 1.19. GoDaddy Inc. has a twelve month low of $119.76 and a twelve month high of $216.00. The stock has a fifty day simple moving average of $180.10 and a 200-day simple moving average of $185.65.

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GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on GDDY shares. Morgan Stanley lifted their target price on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. UBS Group raised their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Citigroup upped their price target on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $212.20.

Insider Transactions at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the completion of the sale, the director now directly owns 21,621 shares of the company's stock, valued at approximately $3,888,536.85. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 of the company's stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,546,970. 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.