Riverbridge Partners LLC Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Riverbridge Partners LLC lowered its holdings in GoDaddy Inc. (NYSE:GDDY) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,444 shares of the technology company’s stock after selling 23,898 shares during the quarter. Riverbridge Partners LLC owned 0.24% of GoDaddy worth $67,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiera Capital Corp raised its position in GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after acquiring an additional 13,206 shares during the period. Canada Pension Plan Investment Board bought a new position in GoDaddy in the 2nd quarter worth $9,430,000. Sei Investments Co. lifted its position in GoDaddy by 11.4% during the second quarter. Sei Investments Co. now owns 196,134 shares of the technology company’s stock valued at $27,403,000 after purchasing an additional 20,081 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in GoDaddy by 297.6% during the second quarter. Thrivent Financial for Lutherans now owns 140,302 shares of the technology company’s stock valued at $19,601,000 after purchasing an additional 105,012 shares during the period. Finally, ProShare Advisors LLC increased its position in GoDaddy by 268.4% in the second quarter. ProShare Advisors LLC now owns 25,880 shares of the technology company’s stock worth $3,616,000 after buying an additional 18,855 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $204.18 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $28.67 billion, a price-to-earnings ratio of 15.78 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $106.42 and a 12 month high of $211.11. The firm’s 50-day moving average is $199.53 and its 200 day moving average is $172.22.

GoDaddy (NYSE:GDDY) last issued 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. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. Research analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the sale, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,483 shares of company stock valued at $4,759,553. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James increased their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.