Intech Investment Management LLC Decreases Position in GoDaddy Inc. $GDDY

Key Points

• Intech Investment Management cut its GoDaddy stake by 86.7% in the fourth quarter, selling 188,275 shares and ending with 28,947 shares valued at about $3.59 million.
• GoDaddy reported better-than-expected quarterly earnings, with EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion, up 6.1% year over year.
• Despite mixed sentiment, Wall Street remains cautiously positive: analysts give GoDaddy a “Moderate Buy” consensus and an average price target of $120.57, while insiders have also recently sold shares.

Intech Investment Management LLC lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 86.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,947 shares of the technology company's stock after selling 188,275 shares during the period. Intech Investment Management LLC's holdings in GoDaddy were worth $3,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rachor Investment Advisory Services LLC purchased a new stake in shares of GoDaddy during the 4th quarter valued at $25,000. Activest Wealth Management lifted its holdings in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company's stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GoDaddy in the 4th quarter worth $25,000. Brown Brothers Harriman & Co. raised its stake in GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company's stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock worth $32,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

Shares of GDDY opened at $93.17 on Tuesday. The business's 50-day moving average is $85.47 and its two-hundred day moving average is $100.65. The company has a market capitalization of $12.34 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.77 and a beta of 0.92. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $183.34.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the firm earned $1.51 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. Research analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Insider Activity

In other news, CAO Phontip Palitwanon sold 1,310 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total transaction of $118,096.50. Following the sale, the chief accounting officer directly owned 20,349 shares in the company, valued at $1,834,462.35. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,892 shares of company stock worth $4,708,383 in the last ninety days. Company insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GDDY shares. Evercore set a $95.00 target price on GoDaddy in a research note on Wednesday, February 25th. Citigroup reduced their target price on GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Barclays reduced their target price on GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Piper Sandler started coverage on GoDaddy in a research note on Thursday, March 12th. They issued a "neutral" rating and a $93.00 target price for the company. Finally, UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and a consensus target price of $120.57.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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