iA Global Asset Management Inc. Has $1.61 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

iA Global Asset Management Inc. decreased its stake in GoDaddy Inc. (NYSE:GDDY) by 15.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,150 shares of the technology company’s stock after selling 1,516 shares during the period. iA Global Asset Management Inc.’s holdings in GoDaddy were worth $1,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GDDY. WCM Investment Management LLC grew its stake in shares of GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. Congress Asset Management Co. bought a new position in GoDaddy in the fourth quarter worth $111,923,000. Amundi lifted its position in GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after purchasing an additional 426,501 shares during the period. AustralianSuper Pty Ltd lifted its position in GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC lifted its position in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the transaction, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GoDaddy stock opened at $180.49 on Friday. The firm has a market capitalization of $25.51 billion, a P/E ratio of 27.98 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00. The business has a 50-day moving average of $191.37 and a 200-day moving average of $182.97. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GDDY shares. 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 report on Wednesday, December 4th. Piper Sandler raised their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.20.

About GoDaddy

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.