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

Moran Wealth Management LLC reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 about 0.05% of GoDaddy worth $13,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of GoDaddy during the fourth quarter valued at $356,038,000. Assenagon Asset Management S.A. grew its position in GoDaddy by 1,412.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after purchasing an additional 1,258,324 shares during the period. Canada Pension Plan Investment Board raised its stake in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after buying an additional 719,000 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of GoDaddy by 18,248.7% during the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock valued at $92,516,000 after buying an additional 510,780 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of GoDaddy by 88.2% during the 4th 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 buying an additional 507,374 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $95,430.00. Following the sale, the director now owns 21,121 shares of the company's stock, valued at $4,031,154.06. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the completion of the transaction, the chief executive officer now owns 440,947 shares of the company's stock, valued at $84,159,144.42. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,632 shares of company stock valued at $12,602,635. Company insiders own 0.61% of the company's stock.

GoDaddy Trading Down 0.1%

GDDY stock traded down $0.19 during midday trading on Thursday, reaching $177.18. The company's stock had a trading volume of 938,539 shares, compared to its average volume of 1,341,393. GoDaddy Inc. has a 1 year low of $138.48 and a 1 year high of $216.00. The firm has a market capitalization of $25.25 billion, a price-to-earnings ratio of 34.07 and a beta of 1.07. The stock has a fifty day simple moving average of $181.23 and a two-hundred day simple moving average of $187.24. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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 firm had revenue of $1.19 billion during 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%. GoDaddy's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.76 earnings per share. On average, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a report on Monday. Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Piper Sandler upped their target price on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Morgan Stanley decreased their price target 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 objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently 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.