GoDaddy Inc. (NYSE:GDDY) Shares Sold by Prudential PLC

Prudential PLC cut its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,935 shares of the technology company's stock after selling 14,194 shares during the quarter. Prudential PLC's holdings in GoDaddy were worth $9,264,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy in the 3rd quarter worth $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy in the fourth quarter valued at about $43,000. Rakuten Securities Inc. boosted its holdings 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 in the last quarter. Friedenthal Financial acquired a new position in GoDaddy during the 4th quarter worth approximately $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $52,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Trading Down 2.8 %

GDDY stock traded down $4.86 during midday trading on Thursday, reaching $169.26. 497,966 shares of the company's stock traded hands, compared to its average volume of 1,444,981. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. The business has a 50-day moving average price of $182.49 and a two-hundred day moving average price of $185.15. The company has a market capitalization of $23.93 billion, a P/E ratio of 26.32 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

Remove Ads

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly 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 net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at $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 ninety days, insiders have sold 19,000 shares of company stock valued at $3,546,970. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GDDY shares. Barclays boosted 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. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Benchmark raised their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $212.20.

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.