GoDaddy Inc. (NYSE:GDDY) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. decreased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,200 shares of the technology company's stock after selling 1,700 shares during the period. Adage Capital Partners GP L.L.C. owned 0.09% of GoDaddy worth $25,895,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GDDY. Quent Capital LLC boosted its stake in GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after purchasing an additional 53 shares during the period. Advisors Capital Management LLC boosted its stake in GoDaddy by 0.9% during the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after purchasing an additional 55 shares during the period. Lake Street Advisors Group LLC boosted its stake in GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after purchasing an additional 64 shares during the period. New York Life Investment Management LLC boosted its stake in GoDaddy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock worth $3,708,000 after purchasing an additional 71 shares during the period. Finally, Metis Global Partners LLC boosted its stake in GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock worth $1,294,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analyst Ratings Changes

GDDY has been the subject of a number of recent research reports. Jefferies Financial Group decreased their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Morgan Stanley cut their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. B. Riley lifted their price objective on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Finally, Barclays lifted their price objective on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $209.60.

GoDaddy Price Performance

GDDY stock traded up $3.53 on Thursday, reaching $191.86. The company had a trading volume of 541,894 shares, compared to its average volume of 1,470,441. GoDaddy Inc. has a 1 year low of $120.59 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company's fifty day moving average is $176.06 and its 200 day moving average is $186.90. The company has a market cap of $27.12 billion, a P/E ratio of 29.77 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock worth $3,518,150. Insiders own 0.61% of the company's stock.

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.