Wedge Capital Management L L P NC Sells 55,658 Shares of GoDaddy Inc. (NYSE:GDDY)

Wedge Capital Management L L P NC lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 345,591 shares of the technology company's stock after selling 55,658 shares during the period. GoDaddy comprises about 1.2% of Wedge Capital Management L L P NC's portfolio, making the stock its 6th largest holding. Wedge Capital Management L L P NC owned 0.25% of GoDaddy worth $68,209,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Geode Capital Management LLC increased its position in shares of GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock valued at $535,153,000 after buying an additional 84,550 shares in the last quarter. FMR LLC raised its stake in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after buying an additional 274,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of GoDaddy by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock valued at $214,584,000 after buying an additional 203,909 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock valued at $120,305,000 after acquiring an additional 235,934 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GDDY. B. Riley increased their target price on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Citigroup raised their price objective on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, Morgan Stanley boosted their price target on shares of GoDaddy from $189.00 to $227.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $194.14.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the transaction, the chief operating officer now owns 183,632 shares of the company's stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 480 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares of the company's stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,483 shares of company stock worth $4,759,553. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Up 0.0 %

NYSE GDDY traded up $0.04 on Friday, hitting $200.89. 1,308,296 shares of the stock were exchanged, compared to its average volume of 824,890. GoDaddy Inc. has a fifty-two week low of $106.32 and a fifty-two week high of $211.11. The company has a 50-day moving average price of $198.80 and a 200-day moving average price of $171.19. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market cap of $28.20 billion, a PE ratio of 15.52 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 EPS. Sell-side analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

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.