Fiera Capital Corp Sells 217,514 Shares of GoDaddy Inc. (NYSE:GDDY)

Key Points

• Fiera Capital Corp has reduced its holdings in GoDaddy Inc. by 46.6%, owning 248,939 shares worth approximately $44.84 million as of the latest SEC filing.
• GoDaddy's recent earnings report showed an EPS of $1.27, missing the consensus estimate of $1.35, while revenue remained steady at $1.19 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for GoDaddy, with target prices ranging from $206.00 to $260.00 following recent adjustments by firms like Morgan Stanley and Citigroup.

Fiera Capital Corp trimmed its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 46.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,939 shares of the technology company's stock after selling 217,514 shares during the quarter. Fiera Capital Corp owned approximately 0.18% of GoDaddy worth $44,844,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC lifted its position in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares during the last quarter. BNP Paribas lifted its position in shares of GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after buying an additional 59 shares during the last quarter. City Holding Co. lifted its position in shares of 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 buying an additional 60 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after acquiring an additional 64 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its holdings in shares of GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after acquiring an additional 67 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $175.96, for a total value of $175,960.00. Following the transaction, the chief operating officer owned 254,949 shares of the company's stock, valued at $44,860,826.04. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the transaction, the chief financial officer directly owned 77,250 shares in the company, valued at approximately $13,978,387.50. This represents a 32.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,257 shares of company stock worth $11,575,910. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on GDDY. Morgan Stanley dropped their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group dropped 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. Citigroup dropped their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Finally, Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Stock Down 2.6%

Shares of GDDY stock traded down $4.16 during trading on Friday, hitting $157.42. 880,970 shares of the company were exchanged, compared to its average volume of 1,472,490. GoDaddy Inc. has a twelve month low of $144.72 and a twelve month high of $216.00. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 30.29 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The business's 50-day simple moving average is $175.07 and its 200 day simple moving average is $181.89.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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. As a group, analysts forecast that GoDaddy Inc. will post 6.63 EPS 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.