GoDaddy Inc. $GDDY Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 86.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,947 shares of the technology company’s stock after selling 188,275 shares during the quarter. Intech Investment Management LLC’s holdings in GoDaddy were worth $3,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $25,000. Activest Wealth Management boosted its holdings in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in shares of GoDaddy during the 4th quarter worth approximately $35,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GDDY. Citigroup lowered their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Evercore set a $95.00 target price on GoDaddy in a report on Wednesday, February 25th. Jefferies Financial Group lowered their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Piper Sandler began coverage on GoDaddy in a report on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. Finally, Raymond James Financial restated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Stock Up 8.6%

GDDY stock opened at $93.17 on Tuesday. The firm has a market cap of $12.34 billion, a PE ratio of 14.74, a PEG ratio of 0.77 and a beta of 0.92. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50 day moving average price is $85.47 and its 200-day moving average price is $100.65. GoDaddy Inc. has a one year low of $73.06 and a one year high of $183.34.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. On average, equities research analysts anticipate that GoDaddy Inc. will post 7.17 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 1,310 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer owned 20,349 shares of the company’s stock, valued at $1,834,462.35. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares in the company, valued at approximately $47,175,378.80. The trade was a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,892 shares of company stock valued at $4,708,383 over the last quarter. 0.93% of the stock is owned by company 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.