Thematics Asset Management Reduces Position in GoDaddy Inc. (NYSE:GDDY)

Thematics Asset Management lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 24.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 33,367 shares of the technology company's stock after selling 10,730 shares during the period. Thematics Asset Management's holdings in GoDaddy were worth $6,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of GoDaddy by 7,628.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 541 shares of the technology company's stock valued at $107,000 after buying an additional 534 shares during the last quarter. Mirova grew its stake in shares of GoDaddy by 3.2% in the 4th quarter. Mirova now owns 24,038 shares of the technology company's stock worth $4,744,000 after acquiring an additional 741 shares in the last quarter. MML Investors Services LLC grew its stake in shares of GoDaddy by 77.2% in the 4th quarter. MML Investors Services LLC now owns 56,317 shares of the technology company's stock worth $11,115,000 after acquiring an additional 24,535 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of GoDaddy by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 43,308 shares of the technology company's stock valued at $8,548,000 after purchasing an additional 211 shares during the last quarter. Finally, Capital International Inc. CA lifted its position in shares of GoDaddy by 6.2% during the fourth quarter. Capital International Inc. CA now owns 43,923 shares of the technology company's stock valued at $8,669,000 after purchasing an additional 2,571 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the transaction, the chief operating officer now directly owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,518,150 in the last quarter. Corporate insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GDDY stock traded up $2.97 during mid-day trading on Friday, reaching $183.39. 683,020 shares of the company traded hands, compared to its average volume of 1,468,215. GoDaddy Inc. has a 52-week low of $120.59 and a 52-week high of $216.00. The company has a market capitalization of $25.92 billion, a P/E ratio of 28.44 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a fifty day moving average price of $175.31 and a 200-day moving average price of $186.22.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Raymond James increased their price target on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price objective on the stock. B. Riley raised their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group cut their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.60.

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.