Harvest Fund Management Co. Ltd Has $859,000 Holdings in GoDaddy Inc. (NYSE:GDDY)

Harvest Fund Management Co. Ltd trimmed its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 80.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,771 shares of the technology company's stock after selling 20,159 shares during the period. Harvest Fund Management Co. Ltd's holdings in GoDaddy were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after purchasing an additional 395,160 shares during the last quarter. Geode Capital Management LLC lifted its holdings in GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after buying an additional 90,810 shares during the period. WCM Investment Management LLC lifted its stake in shares of GoDaddy by 2.0% in the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock valued at $620,931,000 after purchasing an additional 67,152 shares during the period. Invesco Ltd. lifted its stake in shares of GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after purchasing an additional 304,033 shares during the period. Finally, Northern Trust Corp increased its position in GoDaddy by 8.8% in the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock valued at $282,275,000 after buying an additional 115,341 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GDDY. Morgan Stanley decreased their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. increased their price objective on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Finally, Benchmark reiterated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Seven investment 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 stock presently has an average rating of "Moderate Buy" and an average price target of $214.86.

Insider Activity at GoDaddy

In other GoDaddy 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 of the company's stock, valued at approximately $13,978,387.50. The trade was a 32.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the completion of the transaction, the chief executive officer owned 431,015 shares in the company, valued at approximately $77,500,807.15. This trade represents a 1.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,257 shares of company stock worth $11,575,910. Insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GDDY stock traded down $5.16 during trading on Friday, hitting $156.42. The stock 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 P/E ratio of 30.08 and a beta of 1.08. The company's 50-day moving average price is $174.54 and its two-hundred day moving average price is $181.61. GoDaddy Inc. has a twelve month low of $144.72 and a twelve month high of $216.00. 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 (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $2.76 earnings per share. As a group, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.