Mcmorgan & Co. LLC Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

Mcmorgan & Co. LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 79.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,260 shares of the technology company's stock after selling 8,768 shares during the period. Mcmorgan & Co. LLC's holdings in GoDaddy were worth $446,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GDDY. WCM Investment Management LLC grew its position in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Norges Bank bought a new position in GoDaddy in the 4th quarter worth approximately $356,038,000. Canada Pension Plan Investment Board grew its holdings in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after buying an additional 719,000 shares in the last quarter. Congress Asset Management Co. bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $111,923,000. Finally, Amundi lifted its holdings in shares of GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after buying an additional 426,501 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares of the company's stock, valued at approximately $35,481,744.96. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,518,150 in the last ninety days. Corporate insiders own 0.61% of the company's stock.

GoDaddy Trading Up 4.8 %

GDDY stock traded up $8.10 during trading on Wednesday, hitting $178.29. The company had a trading volume of 1,498,343 shares, compared to its average volume of 1,470,916. GoDaddy Inc. has a 52-week low of $120.59 and a 52-week high of $216.00. The company has a 50 day simple moving average of $175.43 and a 200-day simple moving average of $186.10. The firm has a market capitalization of $25.20 billion, a P/E ratio of 27.64 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 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion for 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%. As a group, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GDDY. Raymond James lifted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Barclays boosted their price target 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. Morgan Stanley dropped their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. UBS Group upped their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $210.73.

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.