Mutual of America Capital Management LLC Reduces Stake in GoDaddy Inc. (NYSE:GDDY)

Mutual of America Capital Management LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,099 shares of the technology company's stock after selling 8,335 shares during the period. Mutual of America Capital Management LLC owned 0.06% of GoDaddy worth $9,246,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in GoDaddy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company's stock worth $1,356,131,000 after purchasing an additional 107,949 shares in the last quarter. Starboard Value LP lifted its holdings in GoDaddy by 23.9% in the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company's stock worth $765,637,000 after purchasing an additional 1,973,118 shares in the last quarter. BlackRock Inc. lifted its holdings in GoDaddy by 2.0% in the 1st quarter. BlackRock Inc. now owns 8,512,278 shares of the technology company's stock worth $661,574,000 after purchasing an additional 163,174 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company's stock worth $473,713,000 after purchasing an additional 561,614 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company's stock worth $458,311,000 after purchasing an additional 5,133,332 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares of the company's stock, valued at $14,055,912.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the transaction, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. 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. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on GDDY shares. UBS Group upped their price objective on GoDaddy from $110.00 to $118.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Evercore ISI cut GoDaddy from an "outperform" rating to an "in-line" rating and upped their price objective for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. B. Riley upped their price objective on GoDaddy from $124.00 to $142.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Piper Sandler boosted their target price on GoDaddy from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. Finally, Benchmark reissued a "buy" rating and set a $150.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.18.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $3.33 during trading on Friday, hitting $123.28. The stock had a trading volume of 1,349,245 shares, compared to its average volume of 1,504,542. GoDaddy Inc. has a 12-month low of $67.43 and a 12-month high of $127.15. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 12.87 and a beta of 1.12. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock has a 50-day simple moving average of $116.54 and a two-hundred day simple moving average of $101.38.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. On average, equities research analysts expect that GoDaddy Inc. will post 4.76 earnings per share for the current fiscal year.

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.