GoDaddy Inc. (NYSE:GDDY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 521,060 shares of the technology company's stock after selling 25,299 shares during the period. Principal Financial Group Inc. owned 0.37% of GoDaddy worth $55,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock valued at $37,000 after purchasing an additional 205 shares during the last quarter. Fifth Third Bancorp bought a new stake in GoDaddy in the third quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC acquired a new position in GoDaddy in the third quarter valued at approximately $44,000. UMB Bank n.a. bought a new position in shares of GoDaddy during the 4th quarter worth approximately $50,000. Finally, Tobam acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $60,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Down 1.1 %

NYSE:GDDY traded down $1.44 during midday trading on Thursday, hitting $135.01. 795,601 shares of the company traded hands, compared to its average volume of 1,435,633. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $136.90. The firm has a market capitalization of $19.24 billion, a P/E ratio of 11.21 and a beta of 1.09. The firm's fifty day moving average is $123.22 and its 200-day moving average is $109.93.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. On average, sell-side analysts predict that GoDaddy Inc. will post 4.81 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on GDDY shares. UBS Group increased their price target on GoDaddy from $118.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, May 3rd. Robert W. Baird lifted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 25th. Barclays upped their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 3rd. Morgan Stanley lifted their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the company an "equal weight" rating in a report on Friday, May 3rd. Finally, Evercore ISI upped their target price on shares of GoDaddy from $110.00 to $135.00 and gave the stock an "in-line" rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $142.73.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 8,687 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $991,273.57. Following the transaction, the chief executive officer now owns 454,031 shares in the company, valued at approximately $51,809,477.41. The sale was disclosed in a filing with the SEC, which is available through this link. In other GoDaddy news, CFO Mark Mccaffrey sold 28,392 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $3,138,451.68. Following the transaction, the chief financial officer now directly owns 120,952 shares in the company, valued at approximately $13,370,034.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $991,273.57. Following the sale, the chief executive officer now owns 454,031 shares in the company, valued at $51,809,477.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,234 shares of company stock worth $14,025,346. 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.