Capital International Investors Sells 7,679,861 Shares of GoDaddy Inc. (NYSE:GDDY)

Capital International Investors reduced its position in GoDaddy Inc. (NYSE:GDDY) by 72.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,884,702 shares of the technology company’s stock after selling 7,679,861 shares during the quarter. Capital International Investors’ holdings in GoDaddy were worth $342,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GDDY. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy during the fourth quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $33,000. Rise Advisors LLC purchased a new position in shares of GoDaddy during the 1st quarter worth $48,000. Finally, UMB Bank n.a. acquired a new position in GoDaddy during the 4th quarter worth about $50,000. 90.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays raised their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Robert W. Baird raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Morgan Stanley raised their target price on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, B. Riley raised their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.25.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,825 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $942,464.25. Following the completion of the sale, the chief executive officer now owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,825 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25. Following the transaction, the chief executive officer now owns 377,498 shares in the company, valued at approximately $52,128,698.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now owns 200,632 shares in the company, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. Insiders sold a total of 50,071 shares of company stock valued at $6,875,606 over the last 90 days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.3 %

Shares of GDDY stock traded up $0.36 during trading hours on Friday, reaching $143.65. The company had a trading volume of 1,395,490 shares, compared to its average volume of 1,628,949. The business has a fifty day simple moving average of $140.99 and a 200-day simple moving average of $125.32. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 11.90 and a beta of 1.14. GoDaddy Inc. has a 12 month low of $69.18 and a 12 month high of $148.71. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, research analysts expect that GoDaddy Inc. will post 4.81 earnings per share for the current fiscal year.

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.