GoDaddy Inc. (NYSE:GDDY) Shares Sold by Ararat Capital Management LP

Ararat Capital Management LP lessened its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,771 shares of the technology company's stock after selling 8,758 shares during the period. GoDaddy accounts for approximately 4.3% of Ararat Capital Management LP's portfolio, making the stock its 13th largest holding. Ararat Capital Management LP's holdings in GoDaddy were worth $10,810,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GDDY. Price T Rowe Associates Inc. MD grew its holdings in GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after buying an additional 395,160 shares during the last quarter. Geode Capital Management LLC raised its stake in GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after purchasing an additional 90,810 shares during the last quarter. WCM Investment Management LLC lifted its holdings in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Invesco Ltd. boosted its stake in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after purchasing an additional 304,033 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $356,038,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Up 0.3 %

Shares of GDDY traded up $0.49 during mid-day trading on Tuesday, reaching $182.68. 1,598,569 shares of the stock traded hands, compared to its average volume of 1,477,768. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 28.32 and a beta of 1.13. The stock has a fifty day simple moving average of $176.54 and a 200 day simple moving average of $187.64. 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 12-month low of $128.53 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 EPS. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on GDDY. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday. UBS Group upped their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Citigroup decreased their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Wells Fargo & Company assumed coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target for the company. Six investment analysts have rated the stock with a hold rating, eight have issued 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 a consensus target price of $214.86.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the completion of the sale, the chief operating officer now owns 182,632 shares of the company's stock, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the transaction, the chief executive officer now directly owns 440,947 shares in the company, valued at $84,159,144.42. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,500 shares of company stock valued at $10,244,835. Insiders own 0.61% of the company's stock.

About GoDaddy

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.