GoDaddy Inc. (NYSE:GDDY) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 813,407 shares of the technology company's stock after selling 246,001 shares during the period. Legal & General Group Plc owned approximately 0.58% of GoDaddy worth $160,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of GoDaddy during the 4th quarter worth $25,554,000. CWA Asset Management Group LLC boosted its stake in GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company's stock worth $3,172,000 after purchasing an additional 3,631 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in GoDaddy during the 4th quarter valued at about $1,045,000. Mount Yale Investment Advisors LLC increased its stake in shares of GoDaddy by 205.3% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company's stock worth $1,110,000 after acquiring an additional 3,783 shares during the period. Finally, Jones Financial Companies Lllp grew its position in GoDaddy by 68.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock worth $243,000 after purchasing an additional 499 shares during the period. 90.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Barclays increased their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Piper Sandler boosted 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. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. B. Riley upped their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.20.

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GoDaddy Trading Up 1.4 %

Shares of NYSE GDDY traded up $2.34 during mid-day trading on Tuesday, reaching $173.99. 786,551 shares of the company's stock were exchanged, compared to its average volume of 1,456,839. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 26.98 and a beta of 1.19. GoDaddy Inc. has a 52-week low of $119.76 and a 52-week high of $216.00. The company's 50-day moving average is $180.10 and its 200-day moving average is $185.65. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

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 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 analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 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 $103,850.00. Following the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the transaction, the chief operating officer now directly owns 183,632 shares of the company's stock, valued at approximately $36,831,070.24. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,546,970. Corporate insiders own 0.61% of the company's stock.

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.