Rathbones Group PLC Sells 8,976 Shares of GoDaddy Inc. $GDDY

Rathbones Group PLC lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 16.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 46,464 shares of the technology company’s stock after selling 8,976 shares during the period. Rathbones Group PLC’s holdings in GoDaddy were worth $5,765,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in GDDY. Ameriprise Financial Inc. grew its position in GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after buying an additional 1,128,646 shares during the period. Two Sigma Investments LP grew its position in GoDaddy by 99.7% during the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after buying an additional 814,360 shares during the period. Victory Capital Management Inc. boosted its position in GoDaddy by 318.6% during the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after purchasing an additional 559,757 shares during the period. Swedbank AB boosted its position in GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in GoDaddy by 85.2% during the third quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company’s stock worth $122,359,000 after purchasing an additional 411,349 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.7%

Shares of GDDY opened at $91.60 on Friday. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $184.95. The company has a market capitalization of $12.13 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.83 and a beta of 0.92. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $84.70 and its 200 day simple moving average is $102.83.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director directly owned 11,414 shares of the company’s stock, valued at approximately $991,420.04. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer directly owned 20,349 shares in the company, valued at $1,834,462.35. This trade represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,946 shares of company stock valued at $5,502,965. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays cut their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Benchmark cut their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Evercore set a $95.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut their target price on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, Wells Fargo & Company increased their target price on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Profile

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.