Riverbridge Partners LLC Decreases Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Riverbridge Partners LLC reduced its GoDaddy stake by 37% in Q1, selling 73,512 shares and ending with 125,308 shares valued at about $10.36 million.
• GoDaddy also saw continued insider selling, including trades by Director Sigal Zarmi and CAO Phontip Palitwanon; insiders sold 16,751 shares over the past 90 days.
• The company recently beat quarterly earnings estimates with EPS of $1.60 versus $1.53 expected and revenue of $1.27 billion, but analysts remain mixed, with a consensus rating of Moderate Buy and an average price target of $118.43.

Riverbridge Partners LLC cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 37.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,308 shares of the technology company's stock after selling 73,512 shares during the period. Riverbridge Partners LLC owned approximately 0.09% of GoDaddy worth $10,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GoDaddy during the fourth quarter worth $25,000. Rachor Investment Advisory Services LLC purchased a new stake in GoDaddy in the 4th quarter valued at $25,000. Activest Wealth Management increased its stake in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company's stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of 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. Finally, Entrust Financial LLC purchased a new position in shares of GoDaddy during the 4th quarter worth $35,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares of the company's stock, valued at $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the sale, the chief accounting officer owned 19,995 shares of the company's stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is owned by corporate insiders.

GoDaddy Price Performance

NYSE:GDDY opened at $76.21 on Wednesday. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $181.49. The stock's fifty day moving average is $84.78 and its two-hundred day moving average is $95.27. The company has a market capitalization of $10.09 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.68 and a beta of 0.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GDDY. JPMorgan Chase & Co. lowered their price target on shares of GoDaddy from $154.00 to $124.00 and set an "overweight" rating on the stock in a research report on Thursday, June 18th. Evercore set a $95.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Royal Bank Of Canada reduced their target price on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Barclays decreased their target price on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Finally, Citigroup dropped their price target on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $118.43.

GoDaddy 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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