GoDaddy Inc. (NYSE:GDDY) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,940 shares of the technology company’s stock after selling 2,072 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in GoDaddy were worth $2,554,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GDDY. State Street Corp lifted its holdings in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. Geode Capital Management LLC lifted its stake in GoDaddy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after buying an additional 90,810 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the period. Norges Bank acquired a new position in shares of GoDaddy during the fourth quarter valued at $356,038,000. Finally, Bank of New York Mellon Corp grew its position in shares of GoDaddy by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company’s stock worth $187,441,000 after acquiring an additional 26,341 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the sale, the director now owns 23,121 shares in the company, valued at $4,601,310.21. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at $16,776,543. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,816,029 over the last three months. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group increased their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their target price on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Citigroup increased their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Up 0.3 %

NYSE GDDY opened at $180.77 on Wednesday. GoDaddy Inc. has a 12 month low of $119.76 and a 12 month high of $216.00. The company has a market capitalization of $25.55 billion, a P/E ratio of 28.03 and a beta of 1.25. The company’s 50 day simple moving average is $188.88 and its 200 day simple moving average is $184.81. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company 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%. Equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.