MV Capital Management Inc. Sells 540 Shares of GoDaddy Inc. (NYSE:GDDY)

MV Capital Management Inc. reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 37.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 902 shares of the technology company’s stock after selling 540 shares during the quarter. MV Capital Management Inc.’s holdings in GoDaddy were worth $162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of GoDaddy by 445.4% during the 1st quarter. SG Americas Securities LLC now owns 40,159 shares of the technology company’s stock valued at $7,234,000 after acquiring an additional 32,796 shares during the period. Abacus FCF Advisors LLC purchased a new position in GoDaddy in the first quarter valued at approximately $10,300,000. Pallas Capital Advisors LLC grew its holdings in GoDaddy by 10.8% during the first quarter. Pallas Capital Advisors LLC now owns 4,802 shares of the technology company’s stock valued at $865,000 after purchasing an additional 468 shares during the period. City Holding Co. increased its position in GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after buying an additional 60 shares during the last quarter. Finally, Range Financial Group LLC raised its stake in shares of GoDaddy by 14.8% in the first quarter. Range Financial Group LLC now owns 2,541 shares of the technology company’s stock valued at $458,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $176.89 on Thursday. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two 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 stock has a market cap of $25.20 billion, a P/E ratio of 27.42 and a beta of 1.07. The firm’s fifty day moving average price is $179.64 and its 200-day moving average price is $189.08.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. GoDaddy’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.76 earnings per share. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GDDY shares. Morgan Stanley lowered their price objective on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Piper Sandler raised their target price on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.86.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the transaction, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. The trade was a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the sale, the chief operating officer now owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,459 shares of company stock worth $12,214,374 over the last three months. Company insiders own 0.61% of the company’s stock.

GoDaddy Company 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.