Allianz Asset Management GmbH Sells 209,156 Shares of GoDaddy Inc. (NYSE:GDDY)

Allianz Asset Management GmbH trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 27.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 546,428 shares of the technology company's stock after selling 209,156 shares during the period. Allianz Asset Management GmbH owned approximately 0.39% of GoDaddy worth $98,434,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gallacher Capital Management LLC lifted its holdings in GoDaddy by 99.7% during the 1st quarter. Gallacher Capital Management LLC now owns 2,678 shares of the technology company's stock valued at $482,000 after purchasing an additional 1,337 shares during the last quarter. Optimist Retirement Group LLC lifted its holdings in GoDaddy by 5.8% during the 1st 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. Teachers Retirement System of The State of Kentucky lifted its holdings in GoDaddy by 4.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,836 shares of the technology company's stock valued at $1,952,000 after purchasing an additional 418 shares during the last quarter. IFP Advisors Inc lifted its holdings in GoDaddy by 10.9% during the 1st quarter. IFP Advisors Inc now owns 3,308 shares of the technology company's stock valued at $596,000 after purchasing an additional 325 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in GoDaddy by 27.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 458,397 shares of the technology company's stock valued at $82,576,000 after purchasing an additional 99,932 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GDDY has been the subject of several analyst reports. Citigroup cut their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley cut their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Benchmark reissued a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Barclays lowered their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group lowered their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 37,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the sale, the chief financial officer owned 77,250 shares in the company, valued at $13,978,387.50. This trade represents a 32.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the sale, the chief operating officer owned 254,949 shares of the company's stock, valued at approximately $44,860,826.04. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,757 shares of company stock worth $12,243,920. Company insiders own 0.61% of the company's stock.

GoDaddy Trading Down 0.1%

Shares of GDDY traded down $0.21 on Thursday, reaching $166.92. 1,282,072 shares of the company's stock were exchanged, compared to its average volume of 1,470,545. 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 stock has a market capitalization of $23.78 billion, a P/E ratio of 32.09 and a beta of 1.05. The business has a 50 day moving average price of $177.82 and a two-hundred day moving average price of $183.18. GoDaddy Inc. has a 12 month low of $140.11 and a 12 month high of $216.00.

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

GoDaddy 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.