GoDaddy Inc. (NYSE:GDDY) Shares Sold by Seizert Capital Partners LLC

Key Points

• Seizert Capital Partners LLC reduced its stake in GoDaddy Inc. by 15.6%, now owning 23,122 shares worth approximately $4.17 million.
• Multiple hedge funds significantly increased their holdings in GoDaddy during the last quarter, with Assenagon Asset Management boosting its stake by an astonishing 1,412.1%.
• GoDaddy's stock recently traded down 0.8%, closing at $163.77, while the company reported earnings per share of $1.27, missing estimates by $0.08.

Seizert Capital Partners LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,122 shares of the technology company's stock after selling 4,264 shares during the quarter. Seizert Capital Partners LLC's holdings in GoDaddy were worth $4,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in GoDaddy during the fourth quarter worth $44,668,000. American Century Companies Inc. boosted its stake in shares of GoDaddy by 5.5% during the 4th quarter. American Century Companies Inc. now owns 42,512 shares of the technology company's stock worth $8,391,000 after purchasing an additional 2,209 shares during the period. LPL Financial LLC grew its holdings in GoDaddy by 22.9% during the 4th quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock valued at $13,048,000 after purchasing an additional 12,328 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of GoDaddy by 6.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 116,698 shares of the technology company's stock valued at $23,033,000 after buying an additional 7,081 shares during the period. Finally, Allstate Corp bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $826,000. 90.28% of the stock is owned by institutional investors.

Insider Activity at GoDaddy

In related news, 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 value of $6,785,625.00. Following the completion of the sale, the chief financial officer directly owned 77,250 shares in the company, valued at $13,978,387.50. This trade represents a 32.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the sale, the chief executive officer directly owned 431,015 shares in the company, valued at approximately $77,500,807.15. This represents a 1.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,257 shares of company stock worth $11,575,910. 0.61% of the stock is owned by insiders.

GoDaddy Stock Down 3.2%

GDDY traded down $5.16 on Friday, hitting $156.42. The company had a trading volume of 1,888,665 shares, compared to its average volume of 1,374,308. The stock has a market capitalization of $22.29 billion, a price-to-earnings ratio of 30.08 and a beta of 1.08. 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 stock has a fifty day moving average price of $174.54 and a 200-day moving average price of $181.61. GoDaddy Inc. has a 12-month low of $144.72 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its 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). The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.76 earnings per share. Analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Piper Sandler raised their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Jefferies Financial Group decreased their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. 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. Morgan Stanley reduced their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. 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. According to MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

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.