First Trust Advisors LP Reduces Position in GoDaddy Inc. (NYSE:GDDY)

First Trust Advisors LP cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,216 shares of the technology company's stock after selling 56,513 shares during the period. First Trust Advisors LP owned about 0.48% of GoDaddy worth $132,280,000 at the end of the most recent quarter.

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

GoDaddy Stock Up 1.5 %

GDDY stock traded up $2.64 during mid-day trading on Thursday, reaching $180.65. 1,081,225 shares of the company traded hands, compared to its average volume of 1,559,126. GoDaddy Inc. has a fifty-two week low of $120.59 and a fifty-two week high of $216.00. 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's 50 day moving average price is $175.34 and its 200 day moving average price is $186.04. The stock has a market cap of $25.54 billion, a price-to-earnings ratio of 28.01 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at $44,130,990.75. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted 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. Barclays upped their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Raymond James lifted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.73.

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.