Candriam S.C.A. Trims Position in GoDaddy Inc. (NYSE:GDDY)

Candriam S.C.A. cut its position in GoDaddy Inc. (NYSE:GDDY) by 41.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,756 shares of the technology company’s stock after selling 46,674 shares during the period. Candriam S.C.A.’s holdings in GoDaddy were worth $12,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of GDDY. Amalgamated Bank grew its stake in GoDaddy by 0.5% during the third quarter. Amalgamated Bank now owns 30,595 shares of the technology company’s stock valued at $4,797,000 after acquiring an additional 163 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares in the last quarter. Western Pacific Wealth Management LP purchased a new position in shares of GoDaddy in the 3rd quarter worth $98,000. Equitable Trust Co. grew its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after buying an additional 107 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth $1,950,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Trading Up 2.0 %

Shares of GDDY opened at $175.52 on Friday. GoDaddy Inc. has a 1-year low of $112.49 and a 1-year high of $216.00. The company has a 50-day moving average of $195.50 and a 200 day moving average of $182.12. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 27.21 and a beta of 1.15. 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 results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. On average, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In other news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the transaction, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at $4,384,869.50. The trade was a 6.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,034 shares of company stock worth $4,166,030. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Benchmark lifted their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $213.20.

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.