Fmr LLC Lowers Stock Position in GoDaddy Inc. (NYSE:GDDY)

FMR LLC reduced its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,572,005 shares of the technology company's stock after selling 88,278 shares during the quarter. FMR LLC owned about 1.12% of GoDaddy worth $310,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter valued at approximately $43,000. Rakuten Securities Inc. increased its holdings in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new position in shares of GoDaddy in the fourth quarter worth $49,000. Finally, OFI Invest Asset Management bought a new position in shares of GoDaddy during the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now owns 21,621 shares of the company's stock, valued at $3,888,536.85. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $539,550.00. Following the transaction, the chief executive officer now owns 443,947 shares of the company's stock, valued at $79,843,867.95. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock worth $3,546,970. Corporate insiders own 0.61% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Jefferies Financial Group decreased their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. UBS Group raised their price target on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Citigroup increased their target price on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $212.20.

GoDaddy Price Performance

GDDY stock traded up $3.90 during trading on Tuesday, reaching $175.55. The company's stock had a trading volume of 1,451,338 shares, compared to its average volume of 1,458,860. The company has a market capitalization of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.19. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company's fifty day moving average is $180.10 and its 200-day moving average is $185.65. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its 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 for 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%. On average, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share 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.