Riverbridge Partners LLC Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Riverbridge Partners LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 340,444 shares of the technology company’s stock after selling 23,898 shares during the quarter. Riverbridge Partners LLC’s holdings in GoDaddy were worth $67,193,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GDDY. Wedge Capital Management L L P NC grew its stake in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares during the period. Mizuho Securities USA LLC increased its holdings in 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 buying an additional 350,839 shares in the last quarter. FMR LLC increased its holdings in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after buying an additional 274,014 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of GoDaddy in the second quarter worth about $30,785,000. Finally, Intech Investment Management LLC boosted its stake in shares of GoDaddy by 498.7% during the 3rd quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock worth $39,723,000 after acquiring an additional 211,051 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares in the company, valued at $58,047,957.24. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,483 shares of company stock worth $4,759,553. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 0.7 %

GDDY opened at $204.18 on Thursday. The business’s 50 day moving average price is $199.53 and its 200 day moving average price is $172.22. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $28.67 billion, a PE ratio of 15.78 and a beta of 1.15. GoDaddy Inc. has a one year low of $106.42 and a one year high of $211.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. As a group, equities research analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GDDY. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler boosted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.07.

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.