Riverbridge Partners LLC Has $45.56 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Riverbridge Partners LLC decreased its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 20.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 429,130 shares of the technology company's stock after selling 108,011 shares during the quarter. Riverbridge Partners LLC owned 0.30% of GoDaddy worth $45,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GDDY. SG Americas Securities LLC lifted its holdings in shares of GoDaddy by 644.6% during the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company's stock worth $15,886,000 after acquiring an additional 129,547 shares during the period. Horrell Capital Management Inc. lifted its holdings in shares of GoDaddy by 41.7% during the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company's stock worth $7,219,000 after acquiring an additional 20,000 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of GoDaddy by 1.6% during the 2nd quarter. Bleakley Financial Group LLC now owns 15,886 shares of the technology company's stock worth $1,194,000 after acquiring an additional 250 shares during the period. Rice Hall James & Associates LLC lifted its holdings in shares of GoDaddy by 3.1% during the 3rd quarter. Rice Hall James & Associates LLC now owns 84,077 shares of the technology company's stock worth $6,262,000 after acquiring an additional 2,538 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of GoDaddy by 50.8% during the 4th quarter. Pacer Advisors Inc. now owns 28,581 shares of the technology company's stock worth $3,034,000 after acquiring an additional 9,626 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GDDY. Raymond James began coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price objective for the company. Evercore ISI downgraded shares of GoDaddy from an "outperform" rating to an "in-line" rating and increased their price objective for the company from $100.00 to $110.00 in a research note on Wednesday, February 14th. Robert W. Baird increased their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 25th. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $128.00 to $136.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, StockNews.com raised shares of GoDaddy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average target price of $135.18.

GoDaddy Price Performance

NYSE:GDDY remained flat at $123.91 during trading hours on Thursday. 1,747,790 shares of the company's stock were exchanged, compared to its average volume of 1,530,794. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The company has a market capitalization of $17.65 billion, a price-to-earnings ratio of 12.93 and a beta of 1.12. The stock has a fifty day moving average price of $114.42 and a 200-day moving average price of $99.23. GoDaddy Inc. has a 1-year low of $67.43 and a 1-year high of $125.55.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. As a group, equities analysts predict that GoDaddy Inc. will post 4.74 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares of the company's stock, valued at $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the transaction, the chief executive officer now directly owns 394,423 shares of the company's stock, valued at $43,599,518.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,234 shares of company stock valued at $13,534,946. Corporate insiders own 0.54% of the company's stock.

GoDaddy Company 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.

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