Legal & General Group Plc Lowers Stock Position in GoDaddy Inc. (NYSE:GDDY)

Legal & General Group Plc cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 23.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 813,407 shares of the technology company’s stock after selling 246,001 shares during the period. Legal & General Group Plc’s holdings in GoDaddy were worth $160,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Quent Capital LLC grew its position in shares of GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after acquiring an additional 53 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after acquiring an additional 64 shares during the last quarter. New York Life Investment Management LLC grew its position in shares of GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after acquiring an additional 71 shares during the last quarter. Metis Global Partners LLC grew its position in GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after buying an additional 74 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after buying an additional 88 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GDDY shares. Piper Sandler lifted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. UBS Group lifted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Citigroup lifted their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective on the stock. Finally, Morgan Stanley raised their target price on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.20.

GoDaddy Trading Up 7.5 %

NYSE:GDDY opened at $174.27 on Thursday. The company has a market capitalization of $24.63 billion, a PE ratio of 27.02 and a beta of 1.19. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52-week low of $119.76 and a 52-week high of $216.00. The stock has a fifty day simple moving average of $182.49 and a 200-day simple moving average of $185.15.

GoDaddy (NYSE:GDDY) last released 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares in the company, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,546,970 in the last 90 days. 0.61% of the stock is currently owned by insiders.

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.