Man Group plc Decreases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Man Group plc reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 308,300 shares of the technology company's stock after selling 89,291 shares during the quarter. Man Group plc owned 0.22% of GoDaddy worth $60,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. increased its stake in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of GoDaddy in the fourth quarter worth approximately $52,000. Summit Securities Group LLC bought a new stake in shares of GoDaddy in the fourth quarter worth approximately $58,000. Physician Wealth Advisors Inc. bought a new stake in shares of GoDaddy in the fourth quarter worth approximately $67,000. Finally, Global Retirement Partners LLC grew its stake in shares of GoDaddy by 31.1% in the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock worth $77,000 after acquiring an additional 93 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares of the company's stock, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This trade represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,500 shares of company stock valued at $10,050,555 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

NYSE:GDDY traded up $0.32 during trading hours on Friday, hitting $190.27. 1,204,177 shares of the stock traded hands, compared to its average volume of 1,481,357. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 1 year low of $135.03 and a 1 year high of $216.00. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 29.50 and a beta of 1.13. The stock has a 50 day moving average price of $178.47 and a 200 day moving average price of $188.97.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the firm earned $2.76 EPS. GoDaddy's revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GDDY shares. Royal Bank of Canada reduced their price target on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Raymond James lifted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Finally, UBS Group lifted their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Seven investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

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.