GoDaddy Inc. (NYSE:GDDY) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 48.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the technology company's stock after selling 4,887 shares during the quarter. Nisa Investment Advisors LLC's holdings in GoDaddy were worth $955,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Private Trust Co. NA grew its stake in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. City Holding Co. grew its stake in GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares in the last quarter. Crewe Advisors LLC acquired a new stake in GoDaddy during the 1st quarter valued at approximately $53,000. Finally, Summit Securities Group LLC acquired a new stake in GoDaddy during the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

GDDY traded up $0.15 during trading hours on Friday, hitting $168.44. The company's stock had a trading volume of 501,214 shares, compared to its average volume of 1,338,950. GoDaddy Inc. has a fifty-two week low of $140.11 and a fifty-two week high of $216.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The firm has a market capitalization of $24.00 billion, a PE ratio of 32.35 and a beta of 1.05. The company has a 50-day simple moving average of $179.24 and a 200 day simple moving average of $184.01.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $2.76 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research analyst reports. Barclays reduced 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. Citigroup reduced their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. JPMorgan Chase & Co. increased their target price on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $225.00 target price on shares of GoDaddy in a report on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $214.86.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 16th. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00. Following the transaction, the chief operating officer directly owned 254,949 shares in the company, valued at approximately $44,860,826.04. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction on Monday, May 5th. The stock was sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the transaction, the chief financial officer owned 77,250 shares in the company, valued at $13,978,387.50. The trade was a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,757 shares of company stock valued at $12,243,920 in the last quarter. Company insiders own 0.61% of the company's stock.

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.