First Trust Advisors LP Decreases Stake in GoDaddy Inc. $GDDY

First Trust Advisors LP lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 553,710 shares of the technology company’s stock after selling 25,701 shares during the period. First Trust Advisors LP’s holdings in GoDaddy were worth $75,764,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Neo Ivy Capital Management raised its holdings in GoDaddy by 11.7% during the 3rd quarter. Neo Ivy Capital Management now owns 2,918 shares of the technology company’s stock valued at $399,000 after buying an additional 306 shares during the last quarter. Advisory Alpha LLC bought a new stake in GoDaddy in the 3rd quarter worth $297,000. Dimensional Fund Advisors LP grew its holdings in GoDaddy by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,089,598 shares of the technology company’s stock worth $149,135,000 after acquiring an additional 10,812 shares during the last quarter. Cresset Asset Management LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $206,000. Finally, Victory Capital Management Inc. increased its position in shares of GoDaddy by 318.6% in the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock valued at $100,632,000 after acquiring an additional 559,757 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada reduced their price target on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley lowered their price target on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Benchmark dropped their price objective on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Citigroup cut their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.93.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $91.78 on Tuesday. The company has a 50 day simple moving average of $100.54 and a two-hundred day simple moving average of $122.37. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.86 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 EPS. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Phontip Palitwanon sold 766 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $87.83, for a total transaction of $67,277.78. Following the completion of the transaction, the chief accounting officer directly owned 21,659 shares in the company, valued at $1,902,309.97. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer directly owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 63,005 shares of company stock valued at $5,690,243. 0.70% of the stock is owned by insiders.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.