Candriam S.C.A. Trims Stake in GoDaddy Inc. (NYSE:GDDY)

Candriam S.C.A. lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 41.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,756 shares of the technology company’s stock after selling 46,674 shares during the quarter. Candriam S.C.A.’s holdings in GoDaddy were worth $12,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC grew its holdings in GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after purchasing an additional 3,356,678 shares during the period. Congress Asset Management Co. purchased a new stake in GoDaddy in the fourth quarter worth about $111,923,000. Mizuho Securities USA LLC grew its holdings in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares during the period. AustralianSuper Pty Ltd grew its holdings in GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC grew its holdings in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 2.0 %

GDDY opened at $175.52 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 1-year low of $112.49 and a 1-year high of $216.00. The company has a market capitalization of $24.81 billion, a PE ratio of 27.21 and a beta of 1.15. The firm’s 50 day simple moving average is $195.50 and its two-hundred day simple moving average is $182.12.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. B. Riley increased their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citigroup increased their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Morgan Stanley increased their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Robert W. Baird increased their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Barclays increased their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.20.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 1,554 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the sale, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the sale, the director now directly owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,034 shares of company stock worth $4,166,030. Company insiders own 0.61% of the company’s stock.

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.