ING Groep NV Sells 47,223 Shares of GoDaddy Inc. (NYSE:GDDY)

ING Groep NV decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 72.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,931 shares of the technology company’s stock after selling 47,223 shares during the period. ING Groep NV’s holdings in GoDaddy were worth $3,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC bought a new stake in GoDaddy during the 3rd quarter worth $1,132,000. CWA Asset Management Group LLC grew its position in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after acquiring an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its position in GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after acquiring an additional 17,021 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Down 1.6 %

Shares of NYSE:GDDY opened at $173.82 on Friday. The business’s 50-day moving average is $201.36 and its 200-day moving average is $181.13. GoDaddy Inc. has a 1 year low of $108.38 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Raymond James lifted their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group lifted their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Benchmark lifted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.20.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $98,885.00. Following the completion of the sale, the director now directly owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 value of $194,280.00. Following the sale, the chief operating officer now directly owns 182,632 shares of the company’s stock, valued at $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,482 shares of company stock valued at $4,903,930. 0.61% of the stock is owned by company insiders.

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.