Bessemer Group Inc. Sells 11,745 Shares of GoDaddy Inc. (NYSE:GDDY)

Bessemer Group Inc. decreased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 51.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,872 shares of the technology company's stock after selling 11,745 shares during the quarter. Bessemer Group Inc.'s holdings in GoDaddy were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Rakuten Securities Inc. raised its position in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after acquiring an additional 165 shares during the period. City Holding Co. increased its stake in GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares in the last quarter. OFI Invest Asset Management acquired a new stake in GoDaddy in the fourth quarter worth $52,000. Crewe Advisors LLC acquired a new stake in GoDaddy in the first quarter worth $53,000. Finally, Summit Securities Group LLC bought a new position in shares of GoDaddy during the fourth quarter worth $58,000. Institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

NYSE GDDY opened at $180.19 on Friday. The firm's 50 day moving average is $181.41 and its 200-day moving average is $186.93. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The company has a market capitalization of $25.67 billion, a PE ratio of 34.65 and a beta of 1.07. GoDaddy Inc. has a 12-month low of $138.48 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 earnings per share. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GDDY. Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays decreased their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Citigroup lowered their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the sale, the chief financial officer now directly owns 77,250 shares of the company's stock, valued at approximately $13,978,387.50. The trade was a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,632 shares of company stock valued at $12,602,635. 0.61% of the stock is owned by 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.

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