Moran Wealth Management LLC Trims Holdings in GoDaddy Inc. (NYSE:GDDY)

Moran Wealth Management LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,919 shares of the technology company's stock after selling 2,071 shares during the period. Moran Wealth Management LLC owned approximately 0.05% of GoDaddy worth $13,136,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $356,038,000. Assenagon Asset Management S.A. grew its holdings in shares of GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after purchasing an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of GoDaddy by 107.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of GoDaddy by 18,248.7% in the first quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock valued at $92,516,000 after purchasing an additional 510,780 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of GoDaddy by 88.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock valued at $213,630,000 after purchasing an additional 507,374 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 684 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $122,990.04. Following the completion of the sale, the chief accounting officer now owns 23,371 shares in the company, valued at $4,202,339.51. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $89,925.00. Following the completion of the sale, the director now owns 21,621 shares of the company's stock, valued at approximately $3,888,536.85. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,632 shares of company stock worth $12,602,635. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GDDY shares. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays lowered their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group lowered their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Up 1.7%

Shares of NYSE:GDDY traded up $3.00 during trading on Friday, hitting $180.19. 1,866,062 shares of the company were exchanged, compared to its average volume of 1,334,529. The stock has a market capitalization of $25.67 billion, a P/E ratio of 34.65 and a beta of 1.07. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 12-month low of $138.48 and a 12-month high of $216.00. The firm's 50 day moving average price is $181.41 and its 200-day moving average price is $186.93.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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 company 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 in the prior year, the firm posted $2.76 EPS. On average, research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy Company 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.