GoDaddy Inc. (NYSE:GDDY) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 755,584 shares of the technology company's stock after selling 77,965 shares during the quarter. Allianz Asset Management GmbH owned about 0.54% of GoDaddy worth $149,130,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. WCM Investment Management LLC lifted its position in 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 valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. Congress Asset Management Co. acquired a new position in GoDaddy during the fourth quarter valued at $111,923,000. Mizuho Securities USA LLC lifted its position in GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after purchasing an additional 350,839 shares during the period. AustralianSuper Pty Ltd lifted its position in GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC lifted its position in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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 research report on Thursday, February 6th. Piper Sandler upped their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Barclays upped their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Citigroup upped their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of "Moderate Buy" and a consensus price target of $213.20.

GoDaddy Price Performance

GoDaddy stock traded down $2.75 during midday trading on Friday, reaching $173.82. The company had a trading volume of 1,477,403 shares, compared to its average volume of 1,434,149. The company has a market capitalization of $24.40 billion, a P/E ratio of 26.95 and a beta of 1.15. GoDaddy Inc. has a 12-month low of $108.38 and a 12-month high of $216.00. The firm's fifty day simple moving average is $201.36 and its 200-day simple moving average is $180.93. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

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

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm's 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,482 shares of company stock valued at $4,903,930 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

About GoDaddy

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.