Riverbridge Partners LLC Decreases Stake in GoDaddy Inc. $GDDY

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

Several other large investors have also recently bought and sold shares of GDDY. Czech National Bank boosted its position in shares of GoDaddy by 1.3% during the 4th quarter. Czech National Bank now owns 35,635 shares of the technology company’s stock worth $4,422,000 after purchasing an additional 471 shares in the last quarter. Pensionfund Sabic purchased a new position in shares of GoDaddy in the 4th quarter valued at about $807,000. Avanza Fonder AB lifted its stake in shares of GoDaddy by 51.7% in the fourth quarter. Avanza Fonder AB now owns 14,958 shares of the technology company’s stock valued at $1,856,000 after purchasing an additional 5,097 shares during the period. SG Americas Securities LLC lifted its stake in shares of GoDaddy by 78.8% in the fourth quarter. SG Americas Securities LLC now owns 251,342 shares of the technology company’s stock valued at $31,187,000 after purchasing an additional 110,800 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in GoDaddy by 52.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 539,449 shares of the technology company’s stock worth $66,935,000 after buying an additional 185,349 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cantor Fitzgerald lowered their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley decreased their price target on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Royal Bank Of Canada lowered their price target on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Citigroup dropped their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Jefferies Financial Group reduced their price objective on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $125.57.

GoDaddy Stock Performance

Shares of GDDY opened at $81.63 on Friday. 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 Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The stock has a market cap of $10.89 billion, a P/E ratio of 13.10, a PEG ratio of 0.72 and a beta of 0.96. The company has a 50-day moving average of $91.96 and a two-hundred day moving average of $117.04.

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

Insider Activity

In other news, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the completion of the sale, the chief accounting officer directly owned 20,349 shares in the company, 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 filing with the SEC, which is available through the SEC website. 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 transaction of $3,038,830.52. Following the completion of the transaction, the chief executive officer directly owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,918 shares of company stock valued at $5,500,469 over the last quarter. 0.70% of the stock is currently 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.