Intech Investment Management LLC Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Intech Investment Management LLC reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 23.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,211 shares of the technology company's stock after selling 60,156 shares during the quarter. GoDaddy accounts for about 1.1% of Intech Investment Management LLC's holdings, making the stock its 28th largest holding. Intech Investment Management LLC owned approximately 0.14% of GoDaddy worth $38,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the 4th quarter worth about $43,000. Rakuten Securities Inc. boosted its holdings in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new position in shares of GoDaddy in the 4th quarter worth about $49,000. Finally, OFI Invest Asset Management purchased a new stake in GoDaddy during the 4th quarter valued at about $52,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now owns 333,153 shares of the company's stock, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares of the company's stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,480 shares of company stock valued at $3,816,029. Corporate insiders own 0.61% of the company's stock.

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GoDaddy Stock Down 0.1 %

Shares of NYSE:GDDY traded down $0.20 during trading on Friday, hitting $180.49. The stock had a trading volume of 3,085,676 shares, compared to its average volume of 1,341,554. GoDaddy Inc. has a 12 month low of $118.39 and a 12 month high of $216.00. The company has a market capitalization of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25. The firm's fifty day moving average is $191.37 and its 200 day moving average is $182.97. 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 announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GDDY shares. 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. B. Riley increased their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Wells Fargo & Company started coverage on GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price for the company. Barclays increased their target price on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, StockNews.com cut GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $213.20.

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.