Alta Capital Management LLC Decreases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Alta Capital Management LLC decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 28.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,709 shares of the technology company’s stock after selling 29,962 shares during the quarter. Alta Capital Management LLC owned about 0.05% of GoDaddy worth $15,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its stake in GoDaddy by 2.2% during the third 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 raised its stake 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 acquiring an additional 84,550 shares during the period. WCM Investment Management LLC raised its stake in shares of GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the period. FMR LLC raised its stake in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GoDaddy by 17.5% in the third 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 acquiring an additional 203,909 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GDDY shares. Barclays increased their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. UBS Group increased their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares in the company, valued at $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,534 shares of company stock worth $3,533,720. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Down 1.1 %

Shares of GoDaddy stock opened at $177.53 on Tuesday. 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 Inc. has a 1 year low of $108.38 and a 1 year high of $216.00. The firm’s 50-day moving average is $197.96 and its two-hundred day moving average is $182.06. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 27.52 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share 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.