Globeflex Capital L P Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Globeflex Capital L P lessened its position in shares of GoDaddy Inc. (NYSE:GDDY) by 47.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the technology company’s stock after selling 6,445 shares during the period. Globeflex Capital L P’s holdings in GoDaddy were worth $1,382,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quent Capital LLC lifted its holdings in GoDaddy by 4.4% in the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after buying an additional 53 shares during the period. Lake Street Advisors Group LLC increased its holdings in shares of GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after acquiring an additional 71 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares during the period. Finally, Metis Global Partners LLC lifted its position in GoDaddy by 1.1% during the fourth quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred 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 sale, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,480 shares of company stock worth $3,849,169. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group boosted their price objective on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Finally, Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $176.06 on Friday. The business has a 50 day moving average price of $192.98 and a 200 day moving average price of $182.47. GoDaddy Inc. has a twelve month low of $115.19 and a twelve month high of $216.00. The company has a market cap of $24.89 billion, a price-to-earnings ratio of 27.30 and a beta of 1.25. 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) last issued its earnings results 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.