GoDaddy Inc. (NYSE:GDDY) Stock Holdings Lowered by CWA Asset Management Group LLC

CWA Asset Management Group LLC cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 87.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,002 shares of the technology company's stock after selling 14,069 shares during the period. CWA Asset Management Group LLC's holdings in GoDaddy were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GDDY. Rakuten Securities Inc. lifted its stake in GoDaddy by 311.3% during 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. lifted its stake in GoDaddy by 30.0% in 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. OFI Invest Asset Management purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $52,000. Summit Securities Group LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $58,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $67,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 1.0%

Shares of NYSE:GDDY traded down $1.72 during trading on Friday, reaching $174.70. The stock had a trading volume of 2,132,892 shares, compared to its average volume of 1,352,094. The business has a fifty day moving average price of $180.84 and a 200-day moving average price of $187.76. 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 stock has a market cap of $24.89 billion, a P/E ratio of 33.60 and a beta of 1.07. GoDaddy Inc. has a fifty-two week low of $136.75 and a fifty-two week high of $216.00.

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

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now directly owns 443,947 shares in the company, valued at $79,843,867.95. The trade was a 0.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the sale, the chief financial officer now owns 77,250 shares in the company, valued at $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. Insiders sold a total of 69,632 shares of company stock worth $12,602,635 over the last ninety days. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Benchmark restated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Piper Sandler lifted their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group decreased their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

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.