Bison Wealth LLC Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Bison Wealth LLC reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 21.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,146 shares of the technology company’s stock after selling 1,918 shares during the period. Bison Wealth LLC’s holdings in GoDaddy were worth $759,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of GoDaddy by 644.6% in the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock valued at $15,886,000 after acquiring an additional 129,547 shares during the last quarter. Horrell Capital Management Inc. boosted its holdings in GoDaddy by 41.7% during the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after buying an additional 20,000 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings in GoDaddy by 3.1% during the third quarter. Rice Hall James & Associates LLC now owns 84,077 shares of the technology company’s stock worth $6,262,000 after buying an additional 2,538 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in GoDaddy by 47.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 36,108 shares of the technology company’s stock worth $3,833,000 after buying an additional 11,640 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in GoDaddy during the fourth quarter worth $2,328,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $121.42 on Tuesday. The firm has a 50-day simple moving average of $116.78 and a 200-day simple moving average of $102.12. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 12.67 and a beta of 1.12. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, equities analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GDDY shares. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. B. Riley increased their price target on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Morgan Stanley increased their price target on shares of GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. UBS Group upped their price objective on shares of GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler upped their price objective 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. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $135.18.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the transaction, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,234 shares of company stock worth $13,534,946. Insiders own 0.54% of the company’s stock.

GoDaddy Company 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.