Alberta Investment Management Corp Sells 14,400 Shares of GoDaddy Inc. (NYSE:GDDY)

Alberta Investment Management Corp cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 55.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,800 shares of the technology company’s stock after selling 14,400 shares during the quarter. Alberta Investment Management Corp’s holdings in GoDaddy were worth $2,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its holdings in GoDaddy by 31.1% during the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 93 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of GoDaddy during the fourth quarter worth approximately $220,000. Truist Financial Corp raised its stake in shares of GoDaddy by 5.4% in the fourth quarter. Truist Financial Corp now owns 29,254 shares of the technology company’s stock valued at $5,774,000 after acquiring an additional 1,500 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of GoDaddy by 4.1% in the 4th quarter. CIBC Asset Management Inc now owns 21,969 shares of the technology company’s stock worth $4,336,000 after acquiring an additional 856 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in GoDaddy by 184.7% during the 4th quarter. Sanctuary Advisors LLC now owns 19,939 shares of the technology company’s stock worth $4,258,000 after acquiring an additional 12,935 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of research reports. Barclays raised their target price on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Raymond James raised their price objective 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. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday. B. Riley raised their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $213.20.

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at $38,283,445.20. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,482 shares of company stock worth $4,903,930 over the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $176.56 on Friday. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 27.37 and a beta of 1.15. The business’s 50-day moving average price is $202.02 and its two-hundred day moving average price is $180.74. GoDaddy Inc. has a 1 year low of $108.02 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities analysts expect that GoDaddy Inc. will post 6.53 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.