GoDaddy Inc. (NYSE:GDDY) Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its stake in GoDaddy by 10.0% in Q1 2023, holding 42,248 shares valued at approximately $7.6 million.
• GoDaddy's stock has seen mixed analyst ratings, with the consensus rating being a "Moderate Buy" and an average target price of $202.43.
• Insiders have sold a total of 33,257 shares of GoDaddy in the last three months, with significant sales from COO and CEO, reducing their ownership stakes.

Prudential PLC trimmed its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,248 shares of the technology company's stock after selling 4,687 shares during the quarter. Prudential PLC's holdings in GoDaddy were worth $7,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GDDY. Cornerstone Planning Group LLC lifted its stake in GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after buying an additional 79 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of GoDaddy in the first quarter valued at approximately $27,000. Private Trust Co. NA boosted its holdings in shares of GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after acquiring an additional 136 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of GoDaddy in the first quarter valued at approximately $30,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of GoDaddy by 307.9% in the first quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after acquiring an additional 194 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock traded up $2.49 during trading hours on Friday, hitting $146.12. The stock had a trading volume of 2,456,652 shares, compared to its average volume of 2,312,854. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.56. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.55 and a beta of 1.08. GoDaddy Inc. has a 1-year low of $132.51 and a 1-year high of $216.00. The stock's fifty day moving average is $167.44 and its two-hundred day moving average is $177.57.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%. GoDaddy's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $159.46, for a total value of $956,760.00. Following the sale, the chief executive officer directly owned 419,015 shares of the company's stock, valued at approximately $66,816,131.90. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total value of $169,590.00. Following the completion of the sale, the chief operating officer directly owned 253,949 shares in the company, valued at approximately $43,067,210.91. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,881 shares of company stock valued at $5,725,860. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on GDDY. Wells Fargo & Company lowered their price objective on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the stock an "overweight" rating in a research report on Friday, August 8th. Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Finally, Raymond James Financial lowered their price objective on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

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.