Thematics Asset Management Sells 10,730 Shares of GoDaddy Inc. (NYSE:GDDY)

Thematics Asset Management reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,367 shares of the technology company's stock after selling 10,730 shares during the period. Thematics Asset Management's holdings in GoDaddy were worth $6,586,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the 4th quarter valued at about $43,000. Rakuten Securities Inc. raised its stake in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares during the last quarter. Friedenthal Financial bought a new position in shares of GoDaddy in the fourth quarter valued at approximately $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark raised their price objective on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Barclays upped their target price on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Raymond James boosted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, UBS Group raised their target price on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Eight 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $210.73.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company'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 $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,518,150. Insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GDDY traded up $2.64 on Thursday, reaching $180.65. The company had a trading volume of 1,081,226 shares, compared to its average volume of 1,469,367. GoDaddy Inc. has a 52-week low of $120.59 and a 52-week high of $216.00. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 28.01 and a beta of 1.19. 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 business has a 50 day simple moving average of $175.34 and a 200 day simple moving average of $186.04.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.19 billion for 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%. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current 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.