Massachusetts Financial Services Co. MA Sells 71,921 Shares of GoDaddy Inc. $GDDY

Massachusetts Financial Services Co. MA lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,599 shares of the technology company’s stock after selling 71,921 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.13% of GoDaddy worth $21,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of GoDaddy by 130.5% in the third quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock worth $20,720,000 after acquiring an additional 85,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of GoDaddy in the third quarter valued at approximately $30,575,000. GDS Wealth Management increased its stake in shares of GoDaddy by 14.4% in the third quarter. GDS Wealth Management now owns 68,577 shares of the technology company’s stock valued at $9,383,000 after buying an additional 8,637 shares during the period. TD Asset Management Inc increased its stake in shares of GoDaddy by 17.9% in the third quarter. TD Asset Management Inc now owns 260,682 shares of the technology company’s stock valued at $35,669,000 after buying an additional 39,626 shares during the period. Finally, Railway Pension Investments Ltd increased its stake in shares of GoDaddy by 112.0% in the third quarter. Railway Pension Investments Ltd now owns 44,100 shares of the technology company’s stock valued at $6,034,000 after buying an additional 23,300 shares during the period. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Evercore set a $95.00 price objective on GoDaddy in a research note on Wednesday, February 25th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of GoDaddy in a research note on Wednesday, February 25th. Benchmark lowered their price objective on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, Cantor Fitzgerald lowered their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.57.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director directly owned 11,414 shares of the company’s stock, valued at $991,420.04. This represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is owned by company insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $82.45 on Thursday. The company has a market capitalization of $10.99 billion, a PE ratio of 13.23, a P/E/G ratio of 0.70 and a beta of 0.98. The company has a 50 day simple moving average of $86.19 and a two-hundred day simple moving average of $110.60. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. Research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.