Intech Investment Management LLC Sells 60,156 Shares of GoDaddy Inc. (NYSE:GDDY)

Intech Investment Management LLC decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 193,211 shares of the technology company’s stock after selling 60,156 shares during the quarter. GoDaddy comprises about 1.1% of Intech Investment Management LLC’s portfolio, making the stock its 28th largest holding. Intech Investment Management LLC owned approximately 0.14% of GoDaddy worth $38,134,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $43,000. Rakuten Securities Inc. grew its stake in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Huntington National Bank increased its holdings in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the period. Finally, Friedenthal Financial purchased a new position in shares of GoDaddy during the fourth quarter valued at $49,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Up 2.2 %

Shares of NYSE GDDY opened at $179.97 on Tuesday. GoDaddy Inc. has a 12-month low of $117.33 and a 12-month high of $216.00. The stock has a market cap of $25.44 billion, a P/E ratio of 27.90 and a beta of 1.25. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The business’s fifty day simple moving average is $192.60 and its 200-day simple moving average is $182.83.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on GDDY shares. UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Jefferies Financial Group lifted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Benchmark increased their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Raymond James lifted their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Seven investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the sale, the chief executive officer now owns 505,649 shares in the company, valued at $91,350,548.34. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the transaction, the director now directly owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,480 shares of company stock valued at $3,641,819. Insiders own 0.61% of the company’s stock.

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.