Ontario Teachers Pension Plan Board Sells 2,032 Shares of GoDaddy Inc. (NYSE:GDDY)

Ontario Teachers Pension Plan Board lowered its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,888 shares of the technology company's stock after selling 2,032 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in GoDaddy were worth $767,000 as of its most recent SEC filing.

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

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the transaction, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company's stock, 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. In the last ninety days, insiders have sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Up 2.5 %

GDDY stock traded up $4.06 during midday trading on Tuesday, hitting $169.27. The company had a trading volume of 315,485 shares, compared to its average volume of 1,460,847. 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 Inc. has a 52 week low of $120.23 and a 52 week high of $216.00. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 26.24 and a beta of 1.19. The stock's 50 day moving average price is $176.29 and its 200 day moving average price is $186.21.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GDDY. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Jefferies Financial Group reduced their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Benchmark boosted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company initiated coverage on GoDaddy in a report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target for the company. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.73.

GoDaddy Company 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.