Rhumbline Advisers Has $57.15 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Rhumbline Advisers cut its stake in GoDaddy Inc. (NYSE:GDDY) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 289,558 shares of the technology company’s stock after selling 5,974 shares during the quarter. Rhumbline Advisers’ holdings in GoDaddy were worth $57,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GDDY. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $43,000. Huntington National Bank raised its holdings in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Morgan Stanley increased their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group increased their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, B. Riley increased their price objective on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,482 shares of company stock valued at $4,709,650. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Down 14.1 %

NYSE:GDDY opened at $182.58 on Monday. GoDaddy Inc. has a 12-month low of $108.02 and a 12-month high of $216.00. 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 firm has a market capitalization of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. The stock’s fifty day simple moving average is $204.20 and its 200-day simple moving average is $180.30.

GoDaddy (NYSE:GDDY) last posted 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 return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Equities research analysts expect that GoDaddy Inc. will post 4.96 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.