Victory Capital Management Inc. Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Victory Capital Management Inc. cut its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 199,266 shares of the technology company's stock after selling 9,892 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of GoDaddy worth $39,329,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GDDY. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. Congress Asset Management Co. acquired a new position in shares of GoDaddy in the fourth quarter valued at about $111,923,000. Mizuho Securities USA LLC increased its holdings in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after purchasing an additional 350,839 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC increased its holdings in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

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GoDaddy Price Performance

Shares of NYSE GDDY traded up $3.39 during midday trading on Friday, hitting $175.52. The stock had a trading volume of 1,885,520 shares, compared to its average volume of 1,331,842. The company has a market capitalization of $24.81 billion, a PE ratio of 27.21 and a beta of 1.25. The stock has a 50 day simple moving average of $195.50 and a 200-day simple moving average of $182.26. GoDaddy Inc. has a 1 year low of $113.01 and a 1 year high of $216.00. 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 released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of recent research reports. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. UBS Group upped their target price on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Piper Sandler upped their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Citigroup upped their target price on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their target price on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GoDaddy has an average rating of "Moderate Buy" and a consensus price target of $213.20.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 1,554 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares of the company's stock, valued at approximately $4,384,869.50. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now directly owns 184,632 shares of the company's stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,034 shares of company stock valued at $4,166,030. 0.61% of the stock is currently owned by insiders.

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.