GoDaddy Inc. (NYSE:GDDY) Holdings Trimmed by AIA Group Ltd

AIA Group Ltd trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,174 shares of the technology company’s stock after selling 3,373 shares during the period. AIA Group Ltd’s holdings in GoDaddy were worth $3,416,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in shares of GoDaddy in the 1st quarter valued at $31,000. UMB Bank n.a. purchased a new position in GoDaddy in the 4th quarter worth about $50,000. Tobam acquired a new stake in GoDaddy during the 4th quarter worth about $60,000. Finally, Fifth Third Bancorp purchased a new stake in GoDaddy during the third quarter valued at about $43,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Evercore ISI downgraded shares of GoDaddy from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Robert W. Baird boosted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. B. Riley boosted their target price on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $124.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.18.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock worth $13,534,946 in the last quarter. Insiders own 0.54% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock traded down $0.90 during trading on Thursday, reaching $121.46. The company’s stock had a trading volume of 693,285 shares, compared to its average volume of 1,476,090. The stock has a 50-day moving average price of $117.25 and a two-hundred day moving average price of $102.60. The stock has a market capitalization of $17.31 billion, a P/E ratio of 12.89 and a beta of 1.12. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a one year low of $67.43 and a one year high of $127.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 4.76 EPS 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.