Motley Fool Asset Management LLC Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

Motley Fool Asset Management LLC trimmed its holdings in GoDaddy Inc. (NYSE:GDDY) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,650 shares of the technology company’s stock after selling 556 shares during the quarter. Motley Fool Asset Management LLC’s holdings in GoDaddy were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in GoDaddy by 16.3% during the third quarter. CWM LLC now owns 1,538 shares of the technology company’s stock worth $115,000 after acquiring an additional 216 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of GoDaddy by 78.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 39,605 shares of the technology company’s stock valued at $2,949,000 after purchasing an additional 17,445 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at $596,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of GoDaddy by 17.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,774 shares of the technology company’s stock valued at $4,452,000 after purchasing an additional 9,000 shares during the period. Finally, Xponance Inc. grew its position in GoDaddy by 79.8% during the third quarter. Xponance Inc. now owns 27,804 shares of the technology company’s stock valued at $2,071,000 after buying an additional 12,343 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

GDDY opened at $124.95 on Friday. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The firm has a market capitalization of $17.80 billion, a PE ratio of 13.04 and a beta of 1.12. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The firm’s 50-day moving average price is $118.76 and its 200 day moving average price is $104.78.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. As a group, sell-side analysts expect that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of several recent analyst reports. Evercore ISI lowered shares of GoDaddy from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. B. Riley boosted their price objective on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Raymond James assumed coverage on GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price on the stock. Piper Sandler boosted their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.18.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders sold a total of 121,234 shares of company stock worth $13,534,946 in the last three months. 0.54% of the stock is owned by corporate insiders.

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.