Principal Financial Group Inc. Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Principal Financial Group Inc. reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 196,266 shares of the technology company's stock after selling 1,792 shares during the period. Principal Financial Group Inc. owned 0.14% of GoDaddy worth $38,737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highland Capital Management LLC purchased a new stake in shares of GoDaddy in the 3rd quarter valued at about $1,132,000. CWA Asset Management Group LLC raised its stake in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company's stock valued at $3,172,000 after acquiring an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock valued at $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock valued at $9,410,000 after acquiring an additional 17,021 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its stake in GoDaddy by 205.3% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company's stock valued at $1,110,000 after acquiring an additional 3,783 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the sale, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now owns 184,632 shares in the company, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,482 shares of company stock worth $4,903,930 in the last quarter. Company insiders own 0.61% of the company's stock.

GoDaddy Price Performance

Shares of GDDY traded down $2.75 on Friday, reaching $173.82. The stock had a trading volume of 1,477,403 shares, compared to its average volume of 1,434,149. The firm has a market capitalization of $24.40 billion, a PE ratio of 26.95 and a beta of 1.15. 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 firm has a 50-day moving average of $201.36 and a 200 day moving average of $180.93. GoDaddy Inc. has a twelve month low of $108.38 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on GDDY shares. B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Piper Sandler upped their price objective on GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Benchmark upped their price objective on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company assumed coverage on GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective for the company. Finally, Morgan Stanley increased their target price on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $213.20.

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.