Capital International Investors Sells 28,361 Shares of GoDaddy Inc. (NYSE:GDDY)

Capital International Investors reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,447,017 shares of the technology company's stock after selling 28,361 shares during the period. Capital International Investors owned about 1.74% of GoDaddy worth $483,037,000 at the end of the most recent reporting period.

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

GoDaddy Trading Up 4.8 %

Shares of NYSE:GDDY traded up $8.10 during trading on Wednesday, reaching $178.29. 1,471,097 shares of the company traded hands, compared to its average volume of 1,468,941. 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 Inc. has a 52-week low of $120.59 and a 52-week high of $216.00. The business's fifty day moving average is $175.43 and its 200-day moving average is $186.10. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 27.64 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly 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). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GDDY shares. Raymond James upped their target price on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Piper Sandler increased their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Morgan Stanley dropped their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Jefferies Financial Group reduced their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.73.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the 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 approximately $44,130,990.75. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,518,150 in the last 90 days. Company insiders own 0.61% of the company's stock.

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.