Te Ahumairangi Investment Management Ltd Sells 2,072 Shares of GoDaddy Inc. (NYSE:GDDY)

Te Ahumairangi Investment Management Ltd decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,940 shares of the technology company’s stock after selling 2,072 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in GoDaddy were worth $2,554,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in GoDaddy by 13.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 45,242 shares of the technology company’s stock valued at $8,929,000 after buying an additional 5,457 shares in the last quarter. Alliance Wealth Management Group bought a new position in shares of GoDaddy during the fourth quarter valued at $240,000. Geode Capital Management LLC boosted its stake in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after purchasing an additional 90,810 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of GoDaddy by 42.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,841 shares of the technology company’s stock worth $380,000 after purchasing an additional 548 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of GoDaddy by 30.8% during the 4th quarter. Franklin Resources Inc. now owns 546,444 shares of the technology company’s stock worth $107,852,000 after purchasing an additional 128,542 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY stock opened at $180.77 on Wednesday. The stock has a market cap of $25.55 billion, a PE ratio of 28.03 and a beta of 1.25. The stock has a 50-day moving average of $188.88 and a 200-day moving average of $184.81. 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 one year low of $119.76 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last issued its 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). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 480 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares in the company, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GDDY. Morgan Stanley boosted their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Piper Sandler lifted their target price on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.