Alps Advisors Inc. Has $1.14 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Alps Advisors Inc. cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 19.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,342 shares of the technology company's stock after selling 1,540 shares during the period. Alps Advisors Inc.'s holdings in GoDaddy were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Private Trust Co. NA increased its stake in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after purchasing an additional 136 shares in the last quarter. City Holding Co. increased its stake in GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after purchasing an additional 60 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of GoDaddy during the 1st quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new position in shares of GoDaddy during the 4th quarter worth approximately $58,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Barclays cut their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Finally, Benchmark reissued a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $214.86.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $1,246,442.92. Following the transaction, the chief executive officer directly owned 431,015 shares in the company, valued at approximately $77,500,807.15. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the transaction, the chief operating officer owned 256,949 shares in the company, valued at $44,130,990.75. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,757 shares of company stock valued at $12,246,080. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 1.8%

Shares of GoDaddy stock opened at $167.75 on Monday. The business has a fifty day simple moving average of $180.38 and a two-hundred day simple moving average of $184.68. GoDaddy Inc. has a 1 year low of $140.11 and a 1 year high of $216.00. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of 32.26 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $2.76 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

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.

Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.