GoDaddy Inc. $GDDY Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. trimmed its GoDaddy stake by 2.5% in Q4, selling 471,704 shares and leaving it with 18,440,478 shares (about 13.65% of the company) valued at roughly $2.29 billion.
• GoDaddy beat Q4 earnings with $1.80 EPS versus $1.58 expected and reported $1.27 billion in revenue (up 6.8% year-over-year), while the stock trades well below its 200-day moving average and analysts have trimmed price targets (average target ~$123.79).
• Insiders sold a total of 61,918 shares (~$5.5 million) in the past 90 days, including CFO Mark McCaffrey's sale of 17,406 shares, leaving insiders owning about 0.70% of the company.

Vanguard Group Inc. reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,440,478 shares of the technology company's stock after selling 471,704 shares during the quarter. Vanguard Group Inc. owned about 13.65% of GoDaddy worth $2,288,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hemington Wealth Management raised its position in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company's stock worth $25,000 after acquiring an additional 85 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy during the 4th quarter valued at about $25,000. Root Financial Partners LLC bought a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. grew its stake in shares of GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company's stock worth $35,000 after purchasing an additional 150 shares during the last quarter. Finally, Rossby Financial LCC grew its stake in shares of GoDaddy by 125.4% in the 3rd quarter. Rossby Financial LCC now owns 284 shares of the technology company's stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

GDDY stock opened at $85.76 on Thursday. The firm has a 50 day simple moving average of $84.87 and a 200 day simple moving average of $107.17. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The stock has a market cap of $11.44 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.78 and a beta of 0.98. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. Research analysts anticipate that GoDaddy Inc. will post 6.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup cut their target price on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Morgan Stanley decreased their price target on shares of GoDaddy from $159.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 15th. Raymond James Financial reiterated a "strong-buy" rating and set a $100.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Cantor Fitzgerald reduced their price objective on GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Finally, UBS Group decreased their target price on GoDaddy from $145.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.79.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 17,406 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the completion of the sale, the chief financial officer directly owned 113,003 shares of the company's stock, valued at $10,056,136.97. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer owned 20,349 shares of the company's stock, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,918 shares of company stock worth $5,500,469 in the last ninety days. Company insiders own 0.70% of the company's stock.

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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