Capital Group Private Client Services Inc. Has $1.08 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Capital Group Private Client Services Inc. lowered its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 47.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,479 shares of the technology company's stock after selling 4,876 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in GoDaddy were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GDDY. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the fourth quarter valued at $43,000. Rakuten Securities Inc. raised its stake in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares in the last quarter. Friedenthal Financial bought a new position in shares of GoDaddy during the fourth quarter valued at $49,000. Finally, OFI Invest Asset Management acquired a new stake in shares of GoDaddy in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of recent analyst reports. Raymond James increased their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. UBS Group lifted their price objective on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Piper Sandler increased their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.60.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now directly 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. Over the last ninety days, insiders have sold 19,000 shares of company stock worth $3,518,150. Corporate insiders own 0.61% of the company's stock.

GoDaddy Trading Up 1.7 %

Shares of GoDaddy stock traded up $3.03 during trading on Friday, hitting $183.45. 535,227 shares of the company were exchanged, compared to its average volume of 1,545,677. The firm has a market capitalization of $25.93 billion, a P/E ratio of 28.44 and a beta of 1.19. The firm's fifty day moving average price is $175.31 and its 200 day moving average price is $186.22. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $120.59 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.