Alberta Investment Management Corp Has $2.33 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Alberta Investment Management Corp lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 55.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,800 shares of the technology company’s stock after selling 14,400 shares during the quarter. Alberta Investment Management Corp’s holdings in GoDaddy were worth $2,329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. Congress Asset Management Co. bought a new position in GoDaddy during the fourth quarter worth $111,923,000. Mizuho Securities USA LLC increased its holdings in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after purchasing an additional 350,839 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC lifted its stake in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $176.56 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a market cap of $24.79 billion, a PE ratio of 27.37 and a beta of 1.15. GoDaddy Inc. has a 12-month low of $108.02 and a 12-month high of $216.00. The business’s 50-day moving average price is $202.02 and its two-hundred day moving average price is $180.74.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, analysts expect that GoDaddy Inc. will post 6.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the sale, the chief operating officer now directly owns 182,632 shares in the company, valued at $35,481,744.96. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,482 shares of company stock valued at $4,903,930. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on GDDY shares. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Citigroup increased their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Barclays boosted their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Finally, StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy 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.