Sei Investments Co. Lowers Position in GoDaddy Inc. (NYSE:GDDY)

Sei Investments Co. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 7.2% during the 4th quarter, Holdings Channel reports. The fund owned 209,081 shares of the technology company’s stock after selling 16,282 shares during the period. Sei Investments Co.’s holdings in GoDaddy were worth $41,266,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in GoDaddy in the fourth quarter valued at about $25,554,000. CWA Asset Management Group LLC raised its position in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after purchasing an additional 17,021 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in GoDaddy during the 4th quarter worth approximately $1,045,000. Finally, Mount Yale Investment Advisors LLC increased its stake in GoDaddy by 205.3% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Benchmark raised their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays raised their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 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 transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 1.8 %

GDDY stock opened at $183.65 on Tuesday. GoDaddy Inc. has a 52-week low of $118.39 and a 52-week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market cap of $25.96 billion, a P/E ratio of 28.47 and a beta of 1.25. The company’s 50-day simple moving average is $191.17 and its 200-day simple moving average is $183.53.

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

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.