GoDaddy Inc. (NYSE:GDDY) Position Lessened by Choreo LLC

Choreo LLC lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 62.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,620 shares of the technology company's stock after selling 2,663 shares during the quarter. Choreo LLC's holdings in GoDaddy were worth $292,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. HighPoint Advisor Group LLC grew its holdings in GoDaddy by 15.9% in the first quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock valued at $402,000 after purchasing an additional 293 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in GoDaddy in the first quarter valued at $291,000. DAVENPORT & Co LLC grew its holdings in GoDaddy by 7.7% in the first quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after purchasing an additional 141 shares during the last quarter. Optimist Retirement Group LLC grew its holdings in GoDaddy by 5.8% in the first quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company's stock valued at $274,000 after purchasing an additional 84 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of GoDaddy by 22.9% during the fourth quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock valued at $13,048,000 after acquiring an additional 12,328 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

GDDY has been the topic of a number of analyst reports. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Jefferies Financial Group decreased their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Morgan Stanley reduced their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Citigroup reduced their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $175.96, for a total value of $175,960.00. Following the completion of the transaction, the chief operating officer owned 254,949 shares in the company, valued at approximately $44,860,826.04. This trade represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,257 shares of company stock worth $11,575,910 in the last quarter. Insiders own 0.61% of the company's stock.

GoDaddy Stock Down 3.2%

NYSE GDDY traded down $5.16 during mid-day trading on Friday, reaching $156.42. 1,888,659 shares of the company's stock traded hands, compared to its average volume of 1,480,238. GoDaddy Inc. has a 1-year low of $144.72 and a 1-year high of $216.00. The company has a fifty day simple moving average of $175.07 and a 200-day simple moving average of $181.89. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 30.08 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share 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 net margin of 16.20% and a return on equity of 211.09%. GoDaddy's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.76 EPS. As a group, equities research analysts expect 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.