New Age Alpha Advisors LLC Sells 8,898 Shares of GoDaddy Inc. (NYSE:GDDY)

New Age Alpha Advisors LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 87.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,284 shares of the technology company’s stock after selling 8,898 shares during the quarter. New Age Alpha Advisors LLC’s holdings in GoDaddy were worth $231,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GDDY. Raymond James Financial Inc. bought a new stake in GoDaddy during the fourth quarter worth approximately $44,668,000. FIL Ltd bought a new stake in GoDaddy during the fourth quarter worth approximately $5,920,000. Advisory Services Network LLC bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $1,485,000. Bessemer Group Inc. grew its stake in shares of GoDaddy by 19.0% during the fourth quarter. Bessemer Group Inc. now owns 22,617 shares of the technology company’s stock valued at $4,464,000 after buying an additional 3,607 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of GoDaddy by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 83,971 shares of the technology company’s stock valued at $16,573,000 after buying an additional 855 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Down 11.2%

Shares of NYSE GDDY opened at $133.38 on Friday. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $19.01 billion, a price-to-earnings ratio of 23.82 and a beta of 1.08. The stock has a 50 day moving average price of $171.43 and a 200 day moving average price of $179.67. GoDaddy Inc. has a 52-week low of $132.73 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 188.09% and a net margin of 17.01%. GoDaddy’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler set a $182.00 target price on GoDaddy and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial cut their target price on GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating on the stock in a research note on Friday. Royal Bank Of Canada cut their target price on GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays cut their target price on GoDaddy from $235.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.43.

Insider Activity at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 625 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the completion of the sale, the chief financial officer owned 73,459 shares in the company, valued at $13,008,119.72. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total value of $169,590.00. Following the sale, the chief operating officer owned 253,949 shares of the company’s stock, valued at approximately $43,067,210.91. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,257 shares of company stock valued at $5,827,280 over the last 90 days. Insiders own 0.61% of the company’s stock.

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.