Riverbridge Partners LLC Sells 19,218 Shares of GoDaddy Inc. $GDDY

Riverbridge Partners LLC lowered its holdings in GoDaddy Inc. (NYSE:GDDY) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 253,371 shares of the technology company’s stock after selling 19,218 shares during the quarter. Riverbridge Partners LLC’s holdings in GoDaddy were worth $34,669,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Trust Point Inc. grew its holdings in shares of GoDaddy by 5.4% during the third quarter. Trust Point Inc. now owns 2,928 shares of the technology company’s stock valued at $401,000 after buying an additional 151 shares during the last quarter. Genesis Private Wealth LLC lifted its position in GoDaddy by 11.7% in the 3rd quarter. Genesis Private Wealth LLC now owns 1,691 shares of the technology company’s stock valued at $231,000 after acquiring an additional 177 shares in the last quarter. Czech National Bank boosted its stake in GoDaddy by 1.0% during the 3rd quarter. Czech National Bank now owns 35,164 shares of the technology company’s stock valued at $4,811,000 after purchasing an additional 335 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings in GoDaddy by 11.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 7,984 shares of the technology company’s stock worth $1,092,000 after purchasing an additional 809 shares in the last quarter. Finally, Insight Wealth Strategies LLC raised its stake in shares of GoDaddy by 19.4% in the third quarter. Insight Wealth Strategies LLC now owns 25,271 shares of the technology company’s stock worth $3,458,000 after purchasing an additional 4,107 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GDDY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. Wells Fargo & Company dropped their price objective on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. B. Riley cut their price objective on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. lowered their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.14.

GoDaddy Trading Up 0.5%

NYSE GDDY opened at $127.35 on Monday. The business’s fifty day moving average is $129.02 and its 200-day moving average is $147.22. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.42 and a beta of 0.95. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 earnings per share. Equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares in the company, valued at approximately $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the sale, the director directly owned 19,957 shares of the company’s stock, valued at $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,615 shares of company stock worth $1,877,942. Company insiders own 0.70% of the company’s stock.

GoDaddy 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.