Mn Services Vermogensbeheer B.V. Has $8.72 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Mn Services Vermogensbeheer B.V. cut its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,400 shares of the technology company's stock after selling 3,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in GoDaddy were worth $8,719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. increased its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares during the last quarter. City Holding Co. increased its holdings in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the last quarter. OFI Invest Asset Management acquired a new position in GoDaddy during the fourth quarter worth $52,000. Summit Securities Group LLC acquired a new position in GoDaddy during the fourth quarter worth $58,000. Finally, Physician Wealth Advisors Inc. acquired a new position in GoDaddy during the fourth quarter worth $67,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now directly owns 21,621 shares of the company's stock, valued at $3,888,536.85. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the sale, the chief operating officer now owns 254,949 shares in the company, valued at approximately $44,860,826.04. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,632 shares of company stock worth $12,602,635 over the last ninety days. Corporate insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GDDY shares. Piper Sandler boosted their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Citigroup lowered their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Barclays decreased their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

GoDaddy Stock Performance

NYSE GDDY traded down $1.89 on Wednesday, reaching $176.15. The stock had a trading volume of 1,196,240 shares, compared to its average volume of 1,476,113. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a fifty day moving average of $180.66 and a two-hundred day moving average of $188.35. GoDaddy Inc. has a 1-year low of $135.73 and a 1-year high of $216.00. The company has a market cap of $25.10 billion, a P/E ratio of 33.87 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The company 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 company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 EPS. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

GoDaddy 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.