iA Global Asset Management Inc. Sells 1,516 Shares of GoDaddy Inc. (NYSE:GDDY)

iA Global Asset Management Inc. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,150 shares of the technology company's stock after selling 1,516 shares during the period. iA Global Asset Management Inc.'s holdings in GoDaddy were worth $1,609,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quent Capital LLC raised its holdings in GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after buying an additional 53 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock valued at $283,000 after acquiring an additional 64 shares during the period. New York Life Investment Management LLC lifted its position in shares of GoDaddy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after acquiring an additional 71 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock valued at $1,294,000 after acquiring an additional 74 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company's stock worth $146,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

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GoDaddy Stock Down 0.7 %

NYSE GDDY traded down $1.24 during trading on Wednesday, hitting $182.95. 1,344,965 shares of the company traded hands, compared to its average volume of 1,343,570. GoDaddy Inc. has a 12 month low of $118.39 and a 12 month high of $216.00. The business has a fifty day simple moving average of $190.91 and a 200 day simple moving average of $183.77. The company has a market capitalization of $25.86 billion, a P/E ratio of 28.36 and a beta of 1.25. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

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 analysts' consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on GDDY shares. Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 21st. Morgan Stanley raised their price objective on 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 lifted their target price on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Piper Sandler raised 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. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and a consensus target price of $213.20.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now owns 257,949 shares of the company's stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company's stock, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 in the last quarter. 0.61% of the stock is currently owned by company insiders.

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.