Sepio Capital LP Trims Stake in GoDaddy Inc. (NYSE:GDDY)

Sepio Capital LP lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,421 shares of the technology company’s stock after selling 356 shares during the quarter. Sepio Capital LP’s holdings in GoDaddy were worth $2,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Hilltop Holdings Inc. bought a new position in GoDaddy in the 3rd quarter worth $357,000. Redwood Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth about $465,000. Royal London Asset Management Ltd. grew its position in shares of GoDaddy by 4.1% during the third quarter. Royal London Asset Management Ltd. now owns 58,067 shares of the technology company’s stock worth $9,104,000 after purchasing an additional 2,270 shares in the last quarter. Quantinno Capital Management LP raised its stake in GoDaddy by 19.6% during the 3rd quarter. Quantinno Capital Management LP now owns 13,803 shares of the technology company’s stock valued at $2,164,000 after purchasing an additional 2,260 shares during the period. Finally, State Street Corp lifted its holdings in GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Down 7.5 %

Shares of GDDY opened at $164.34 on Friday. 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 business has a fifty day moving average of $186.96 and a 200 day moving average of $185.04. The company has a market cap of $23.23 billion, a PE ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a 52-week low of $119.76 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last released 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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark lifted their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company began coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,643,589 over the last 90 days. Company insiders own 0.61% of the company’s stock.

GoDaddy 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.