Pinebridge Investments L.P. Has $19.58 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Pinebridge Investments L.P. reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,206 shares of the technology company's stock after selling 26,668 shares during the quarter. Pinebridge Investments L.P. owned about 0.07% of GoDaddy worth $19,580,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GDDY. WCM Investment Management LLC grew its position in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares during the period. Norges Bank acquired a new position in shares of GoDaddy during the 4th quarter worth about $356,038,000. Canada Pension Plan Investment Board grew its position in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after buying an additional 719,000 shares during the period. Congress Asset Management Co. acquired a new position in shares of GoDaddy during the 4th quarter worth about $111,923,000. Finally, Amundi grew its position in shares of GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after buying an additional 426,501 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the sale, the chief operating officer now owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This represents a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,518,150 in the last quarter. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

GDDY traded up $1.49 on Tuesday, reaching $186.56. The company had a trading volume of 387,223 shares, compared to its average volume of 1,468,595. GoDaddy Inc. has a fifty-two week low of $120.59 and a fifty-two week high of $216.00. The stock has a market cap of $26.37 billion, a P/E ratio of 28.93 and a beta of 1.19. The company's fifty day moving average is $175.53 and its 200 day moving average is $186.88. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GDDY shares. B. Riley boosted their target price on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Piper Sandler upped their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.60.

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.