GoDaddy Inc. (NYSE:GDDY) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 15.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 32,255 shares of the technology company’s stock after selling 5,692 shares during the quarter. GoDaddy accounts for about 1.2% of Patton Fund Management Inc.’s portfolio, making the stock its 24th biggest holding. Patton Fund Management Inc.’s holdings in GoDaddy were worth $6,366,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after buying an additional 84,550 shares in the last quarter. FMR LLC raised its position in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after buying an additional 274,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after buying an additional 203,909 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in GoDaddy by 25.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock worth $90,150,000 after acquiring an additional 117,028 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock opened at $214.33 on Wednesday. The company’s 50 day simple moving average is $201.68 and its 200-day simple moving average is $174.47. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a 1 year low of $106.42 and a 1 year high of $215.35. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 16.56 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at $38,283,445.20. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,483 shares of company stock valued at $4,759,553 in the last three months. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GDDY. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. B. Riley boosted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.07.

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.