Orion Portfolio Solutions LLC Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Orion Portfolio Solutions LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,435 shares of the technology company's stock after selling 2,548 shares during the period. Orion Portfolio Solutions LLC's holdings in GoDaddy were worth $2,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the 4th quarter worth $43,000. Rakuten Securities Inc. raised its position 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 in the last quarter. Friedenthal Financial acquired a new stake in GoDaddy in the 4th quarter valued at about $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy in the 4th quarter valued at about $52,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on GDDY shares. Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Raymond James increased their target price on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Finally, 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. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $213.20.

GoDaddy Stock Performance

NYSE:GDDY traded down $13.33 during mid-day trading on Friday, reaching $164.34. 2,818,421 shares of the stock were exchanged, compared to its average volume of 1,433,679. The stock has a market capitalization of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The company has a 50 day simple moving average of $186.96 and a 200-day simple moving average of $185.26. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

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

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred 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 transaction, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now owns 330,153 shares of the company's stock, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,643,589. 0.61% of the stock is owned by company insiders.

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.