Artisan Partners Limited Partnership Has $140.60 Million Position in GoDaddy Inc. (NYSE:GDDY)

Artisan Partners Limited Partnership trimmed its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,354 shares of the technology company’s stock after selling 23,564 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.51% of GoDaddy worth $140,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new stake in GoDaddy during the 4th quarter worth approximately $25,554,000. CWA Asset Management Group LLC grew its holdings in GoDaddy by 29.2% in the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after purchasing an additional 3,631 shares during the period. Fiduciary Alliance LLC bought a new stake in GoDaddy in the fourth quarter valued at $1,045,000. Mount Yale Investment Advisors LLC raised its holdings in shares of GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of GoDaddy by 68.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock worth $243,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $182.95 on Thursday. The company has a market capitalization of $25.86 billion, a P/E ratio of 28.36 and a beta of 1.25. The company’s 50-day moving average is $190.59 and its 200 day moving average is $183.77. 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 Inc. has a fifty-two week low of $118.39 and a fifty-two week high of $216.00.

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

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the sale, the director now owns 22,121 shares of the company’s stock, valued at $3,996,379.86. The trade was a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the transaction, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock valued at $3,816,029 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on GDDY. Morgan Stanley boosted their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, UBS Group lifted their target price on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.