Victory Capital Management Inc. Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Victory Capital Management Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,266 shares of the technology company’s stock after selling 9,892 shares during the quarter. Victory Capital Management Inc. owned 0.14% of GoDaddy worth $39,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the 3rd quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the fourth quarter worth about $43,000. Huntington National Bank increased its holdings in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in GoDaddy in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,034 shares of company stock worth $4,166,030 in the last quarter. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

GDDY has been the topic of a number of research reports. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Benchmark upped their target price on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Raymond James lifted their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective 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. Finally, Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Performance

GoDaddy stock opened at $175.52 on Friday. The stock has a fifty day moving average price of $195.50 and a 200 day moving average price of $182.26. 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 52 week low of $113.01 and a 52 week high of $216.00. The firm has a market capitalization of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current 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.