Capital Group Private Client Services Inc. Sells 4,876 Shares of GoDaddy Inc. (NYSE:GDDY)

Capital Group Private Client Services Inc. lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 47.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,479 shares of the technology company's stock after selling 4,876 shares during the period. Capital Group Private Client Services Inc.'s holdings in GoDaddy were worth $1,081,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GDDY. Geode Capital Management LLC increased its position in GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after buying an additional 90,810 shares during the period. WCM Investment Management LLC raised its stake in GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Invesco Ltd. boosted its holdings in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after purchasing an additional 304,033 shares during the period. Norges Bank acquired a new stake in GoDaddy in the 4th quarter worth $356,038,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after purchasing an additional 719,000 shares during the period. Institutional investors own 90.28% of the company's stock.

Insiders Place Their Bets

In related news, 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 value of $171,750.00. Following the sale, the chief operating officer now owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company's stock, valued at $4,698,381.70. This trade represents a 2.16 % 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GDDY shares. Jefferies Financial Group decreased their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. B. Riley boosted their price objective on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Morgan Stanley cut their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.73.

GoDaddy Stock Up 1.5 %

NYSE GDDY traded up $2.64 during trading hours on Thursday, reaching $180.65. 1,081,189 shares of the company's stock were exchanged, compared to its average volume of 1,469,366. GoDaddy Inc. has a one year low of $120.59 and a one year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company's 50-day moving average is $175.34 and its two-hundred day moving average is $186.04. The company has a market capitalization of $25.54 billion, a price-to-earnings ratio of 28.01 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy Company 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.