Kennedy Capital Management LLC Sells 9,566 Shares of GoDaddy Inc. (NYSE:GDDY)

Kennedy Capital Management LLC cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 41.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,386 shares of the technology company's stock after selling 9,566 shares during the period. Kennedy Capital Management LLC's holdings in GoDaddy were worth $2,642,000 as of its most recent SEC filing.

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

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $0.65 during trading on Friday, reaching $171.55. 1,166,177 shares of the company traded hands, compared to its average volume of 1,465,091. The firm has a 50 day simple moving average of $177.13 and a 200-day simple moving average of $185.71. GoDaddy Inc. has a 52-week low of $119.76 and a 52-week high of $216.00. The stock has a market capitalization of $24.25 billion, a PE ratio of 26.60 and a beta of 1.19. 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 issued 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). The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on 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 owns 330,153 shares in the company, valued at $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research reports. StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective for the company. Barclays upped their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Raymond James increased their price target 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. Finally, Jefferies Financial Group cut their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.