GoDaddy Inc. (NYSE:GDDY) Stock Holdings Lessened by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 94.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,790 shares of the technology company’s stock after selling 30,671 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in GoDaddy were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GDDY. Voya Investment Management LLC lifted its position in shares of GoDaddy by 333.8% in the 4th quarter. Voya Investment Management LLC now owns 396,934 shares of the technology company’s stock valued at $78,343,000 after acquiring an additional 305,425 shares in the last quarter. MGO One Seven LLC purchased a new position in shares of GoDaddy during the fourth quarter valued at $390,000. Price T Rowe Associates Inc. MD raised its position in GoDaddy by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock valued at $751,778,000 after buying an additional 395,160 shares during the period. Quantessence Capital LLC purchased a new stake in GoDaddy in the 4th quarter worth about $896,000. Finally, Stifel Financial Corp boosted its position in GoDaddy by 89.1% during the 4th quarter. Stifel Financial Corp now owns 62,639 shares of the technology company’s stock worth $12,363,000 after acquiring an additional 29,520 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on GDDY shares. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Piper Sandler upped their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Financial Group reduced their price objective on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 7th. Finally, Raymond James upped their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.93.

GoDaddy Trading Down 8.4 %

GoDaddy stock opened at $176.27 on Friday. GoDaddy Inc. has a 52 week low of $122.04 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm has a market capitalization of $24.92 billion, a PE ratio of 27.33 and a beta of 1.13. The business’s 50-day simple moving average is $176.43 and its 200-day simple moving average is $187.19.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.76 earnings per share. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now owns 330,153 shares of the company’s stock, valued at $68,572,778.10. The trade was a 0.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is currently owned by company 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.