Bridgewater Associates LP Sells 25,754 Shares of GoDaddy Inc. (NYSE:GDDY)

Bridgewater Associates LP trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 213,102 shares of the technology company's stock after selling 25,754 shares during the quarter. Bridgewater Associates LP owned approximately 0.15% of GoDaddy worth $42,060,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC bought a new position in GoDaddy during the 3rd quarter worth $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. grew its position in GoDaddy by 311.3% during 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 during the last quarter. Friedenthal Financial bought a new stake in shares of GoDaddy during the fourth quarter worth about $49,000. Finally, OFI Invest Asset Management acquired a new position in GoDaddy in the 4th quarter valued at approximately $52,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup upped their price target on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Raymond James increased their target price on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Barclays upped their target price 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. Wells Fargo & Company initiated coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target on the stock. Finally, UBS Group boosted their target price 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. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and an average target price of $210.73.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares in the company, valued at $68,572,778.10. The trade was a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the transaction, the chief operating officer now directly owns 256,949 shares of the company's stock, valued at $44,130,990.75. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,518,150 over the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Trading Down 0.4 %

Shares of GDDY traded down $0.65 during mid-day trading on Friday, reaching $171.55. The company's stock had a trading volume of 1,166,177 shares, compared to its average volume of 1,465,091. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00. The stock has a market cap of $24.25 billion, a PE ratio of 26.60 and a beta of 1.19. The company's fifty day moving average price is $177.13 and its two-hundred day moving average price is $185.71. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last posted 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. On average, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.