Nisa Investment Advisors LLC Sells 4,887 Shares of GoDaddy Inc. (NYSE:GDDY)

Nisa Investment Advisors LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 48.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,300 shares of the technology company's stock after selling 4,887 shares during the period. Nisa Investment Advisors LLC's holdings in GoDaddy were worth $955,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 11.6% during 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 buying an additional 395,160 shares in the last quarter. Geode Capital Management LLC boosted its stake in GoDaddy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after acquiring an additional 90,810 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of GoDaddy by 2.0% during the first 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 last quarter. Invesco Ltd. boosted its position 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 worth $575,122,000 after purchasing an additional 304,033 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of GoDaddy in the 4th quarter worth approximately $356,038,000. 90.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. Barclays dropped 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. Jefferies Financial Group dropped their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a research note on Monday, June 23rd. Finally, Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 625 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the completion of the transaction, the chief financial officer owned 73,459 shares in the company, valued at $13,008,119.72. The trade was a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $179.68, for a total value of $89,840.00. Following the sale, the director owned 21,957 shares of the company's stock, valued at approximately $3,945,233.76. This trade represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,757 shares of company stock valued at $12,074,330. Company insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GDDY stock traded up $0.12 during trading on Thursday, hitting $168.36. 1,054,277 shares of the company's stock traded hands, compared to its average volume of 1,340,174. 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 Inc. has a 52 week low of $140.11 and a 52 week high of $216.00. The business has a fifty day simple moving average of $179.54 and a 200 day simple moving average of $184.22. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 32.38 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly 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 company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.76 EPS. As a group, research analysts expect that GoDaddy Inc. will post 6.63 EPS 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.