GoDaddy Inc. $GDDY Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 41.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 349,861 shares of the technology company's stock after selling 251,526 shares during the period. First Trust Advisors LP owned approximately 0.26% of GoDaddy worth $28,923,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of GoDaddy by 88.3% in the first quarter. PNC Financial Services Group Inc. now owns 15,977 shares of the technology company's stock valued at $1,321,000 after acquiring an additional 7,491 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new position in GoDaddy during the first quarter worth about $120,000. Meeder Advisory Services Inc. acquired a new stake in GoDaddy in the first quarter valued at about $201,000. WCM Investment Management LLC lifted its position in GoDaddy by 1.0% in the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company's stock valued at $270,924,000 after purchasing an additional 33,509 shares during the period. Finally, SEB Asset Management AB purchased a new stake in GoDaddy in the 1st quarter valued at approximately $8,297,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the transaction, the chief executive officer owned 521,747 shares of the company's stock, valued at $46,884,185.42. The trade was a 1.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares in the company, valued at $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock valued at $1,480,228 in the last three months. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GDDY shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of GoDaddy in a research report on Tuesday, June 16th. Benchmark decreased their price target on GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. UBS Group started coverage on GoDaddy in a report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price objective on the stock. Wells Fargo & Company increased their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on GoDaddy from $154.00 to $124.00 and set an "overweight" rating for the company in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.43.

GoDaddy Trading Up 6.7%

Shares of GoDaddy stock opened at $102.87 on Wednesday. The company has a 50-day moving average of $86.38 and a two-hundred day moving average of $89.00. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $166.09. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market cap of $13.62 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company earned $1.51 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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