Wedge Capital Management L L P NC Sells 10,427 Shares of GoDaddy Inc. (NYSE:GDDY)

Wedge Capital Management L L P NC trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,528 shares of the technology company’s stock after selling 10,427 shares during the period. Wedge Capital Management L L P NC’s holdings in GoDaddy were worth $5,046,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Ingalls & Snyder LLC increased its position in GoDaddy by 0.3% during the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after buying an additional 120 shares in the last quarter. Parkside Financial Bank & Trust increased its position in GoDaddy by 7.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock valued at $144,000 after buying an additional 137 shares in the last quarter. Whittier Trust Co. increased its position in GoDaddy by 9.1% during the 3rd quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock valued at $125,000 after buying an additional 141 shares in the last quarter. Quent Capital LLC increased its position in GoDaddy by 30.8% during the 4th quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after buying an additional 150 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in GoDaddy by 27.4% during the 4th quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock valued at $77,000 after buying an additional 157 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

GDDY has been the topic of several research analyst reports. Morgan Stanley boosted their price target on GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. B. Riley boosted their price target on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Four investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.18.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Amanpal Singh Bhutani sold 8,687 shares of GoDaddy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $991,273.57. Following the completion of the transaction, the chief executive officer now directly owns 454,031 shares in the company, valued at $51,809,477.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction 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 of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,234 shares of company stock worth $13,534,946. Company insiders own 0.54% of the company’s stock.

GoDaddy Trading Up 0.3 %

Shares of GoDaddy stock opened at $123.79 on Thursday. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 12.92 and a beta of 1.12. GoDaddy Inc. has a fifty-two week low of $67.43 and a fifty-two week high of $127.15. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average of $118.20 and a 200 day moving average of $104.29.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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. The company had revenue of $1.10 billion during 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%. As a group, research analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current year.

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.