Freshford Capital Management LLC Sells 26,585 Shares of GoDaddy Inc. (NYSE:GDDY)

Freshford Capital Management LLC trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,795 shares of the technology company's stock after selling 26,585 shares during the period. GoDaddy comprises approximately 11.0% of Freshford Capital Management LLC's holdings, making the stock its 2nd biggest holding. Freshford Capital Management LLC owned 0.14% of GoDaddy worth $38,644,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC grew its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter worth approximately $356,038,000. Canada Pension Plan Investment Board raised its holdings in GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after acquiring an additional 719,000 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of GoDaddy during the 4th quarter worth $111,923,000. Finally, Amundi boosted its holdings in shares of GoDaddy by 84.4% during the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after purchasing an additional 426,501 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. 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 objective for the company. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. UBS Group upped their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Raymond James boosted their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.73.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was 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. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is currently owned by insiders.

GoDaddy Price Performance

GDDY opened at $169.99 on Wednesday. GoDaddy Inc. has a twelve month low of $120.59 and a twelve month high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm has a market cap of $24.03 billion, a price-to-earnings ratio of 26.36 and a beta of 1.19. The company has a fifty day simple moving average of $175.43 and a 200 day simple moving average of $186.10.

GoDaddy (NYSE:GDDY - Get Free Report) last announced 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 business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. Equities research analysts expect 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.

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