GoDaddy Inc. $GDDY Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its position in GoDaddy Inc. (NYSE:GDDY) by 37.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 125,308 shares of the technology company’s stock after selling 73,512 shares during the quarter. Riverbridge Partners LLC’s holdings in GoDaddy were worth $10,359,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GDDY. Rachor Investment Advisory Services LLC purchased a new position in GoDaddy during the 4th quarter valued at about $25,000. Activest Wealth Management increased its stake in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GoDaddy during the fourth quarter worth about $25,000. Brown Brothers Harriman & Co. lifted its position in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Royal Bank Of Canada decreased their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Finally, Evercore set a $95.00 price objective on GoDaddy in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.43.

Insiders Place Their Bets

In other news, Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the transaction, the director owned 5,708 shares in the company, valued at approximately $501,390.72. This represents a 5.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the transaction, the chief accounting officer owned 19,995 shares in the company, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is owned by insiders.

GoDaddy Stock Up 1.6%

Shares of NYSE:GDDY opened at $76.21 on Wednesday. The firm’s 50 day moving average price is $84.78 and its 200 day moving average price is $95.27. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.68 and a beta of 0.90. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $181.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that GoDaddy Inc. will post 7.14 earnings per share for the current fiscal year.

About GoDaddy

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.