Capital International Investors Lowers Stake in GoDaddy Inc. (NYSE:GDDY)

Capital International Investors reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,447,017 shares of the technology company's stock after selling 28,361 shares during the quarter. Capital International Investors owned approximately 1.74% of GoDaddy worth $483,037,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of GoDaddy by 28.7% during the third quarter. Barclays PLC now owns 447,425 shares of the technology company's stock worth $70,147,000 after acquiring an additional 99,734 shares during the period. Te Ahumairangi Investment Management Ltd increased its holdings in GoDaddy by 86.8% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company's stock worth $2,340,000 after purchasing an additional 6,974 shares during the period. Anchor Investment Management LLC bought a new stake in GoDaddy during the 3rd quarter valued at $31,000. Wilmington Savings Fund Society FSB bought a new position in shares of GoDaddy during the 3rd quarter worth $922,000. Finally, Tidal Investments LLC increased its stake in shares of GoDaddy by 38.7% during the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company's stock valued at $2,923,000 after buying an additional 5,205 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

GDDY stock traded up $3.57 during mid-day trading on Thursday, reaching $181.58. 368,128 shares of the company's stock were exchanged, compared to its average volume of 1,549,739. 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 market cap of $25.67 billion, a price-to-earnings ratio of 28.11 and a beta of 1.19. The stock's 50 day moving average is $175.34 and its 200 day moving average is $186.04. GoDaddy Inc. has a 12-month low of $120.59 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Morgan Stanley reduced their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Benchmark boosted their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Eight 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.73.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred 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 sale, the chief executive officer now owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company's stock, valued at $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,518,150 in the last 90 days. 0.61% of the stock is owned by insiders.

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.