Schroder Investment Management Group Sells 6,689 Shares of GoDaddy Inc. (NYSE:GDDY)

Schroder Investment Management Group reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,185 shares of the technology company’s stock after selling 6,689 shares during the quarter. Schroder Investment Management Group owned about 0.07% of GoDaddy worth $19,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy during the fourth quarter valued at $43,000. Rakuten Securities Inc. lifted its stake in shares of GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial bought a new position in GoDaddy in the fourth quarter valued at about $49,000. Finally, OFI Invest Asset Management acquired a new stake in GoDaddy in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at approximately $44,937,295.29. The trade was a 0.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,480 shares of company stock worth $2,024,939. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GDDY. Jefferies Financial Group raised their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Barclays lifted 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, Morgan Stanley increased 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. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Down 0.1 %

Shares of GDDY stock opened at $180.48 on Thursday. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 27.98 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00. The firm has a fifty day moving average of $188.41 and a 200-day moving average of $184.78. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.