GoDaddy Inc. $GDDY Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,820 shares of the technology company’s stock after selling 54,551 shares during the period. Riverbridge Partners LLC owned about 0.15% of GoDaddy worth $24,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GDDY. Hemington Wealth Management raised its position in shares of GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares in the last quarter. Root Financial Partners LLC purchased a new position in GoDaddy in the third quarter valued at approximately $31,000. Brown Brothers Harriman & Co. increased its stake in GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after purchasing an additional 150 shares during the last quarter. Rossby Financial LCC raised its holdings in GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in shares of GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after buying an additional 208 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Evercore set a $95.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Jefferies Financial Group dropped their price objective on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Wells Fargo & Company cut their target price on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Royal Bank Of Canada decreased their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.57.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer directly owned 530,120 shares in the company, valued at $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the transaction, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at $10,056,136.97. This represents a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,918 shares of company stock worth $5,500,469 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

GoDaddy Stock Up 0.1%

GoDaddy stock opened at $81.63 on Friday. The stock has a 50 day moving average of $91.96 and a two-hundred day moving average of $117.04. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $193.55. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.72 and a beta of 0.96. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.