Kennedy Capital Management LLC Sells 4,024 Shares of GoDaddy Inc. (NYSE:GDDY)

Kennedy Capital Management LLC cut its stake in GoDaddy Inc. (NYSE:GDDY) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,594 shares of the technology company’s stock after selling 4,024 shares during the quarter. Kennedy Capital Management LLC’s holdings in GoDaddy were worth $3,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Norges Bank purchased a new position in shares of GoDaddy in the fourth quarter worth approximately $181,687,000. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after buying an additional 928,273 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of GoDaddy by 7,379.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after buying an additional 714,075 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of GoDaddy in the first quarter worth approximately $75,855,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of GDDY stock traded down $0.04 during mid-day trading on Tuesday, hitting $143.80. The company had a trading volume of 825,530 shares, compared to its average volume of 1,621,188. GoDaddy Inc. has a 52-week low of $69.18 and a 52-week high of $148.71. The stock’s 50 day moving average price is $141.26 and its 200-day moving average price is $126.19. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $20.52 billion, a P/E ratio of 11.91 and a beta of 1.14.

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

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 6,825 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the sale, the chief executive officer now owns 377,498 shares in the company, valued at $52,128,698.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,071 shares of company stock worth $6,875,606. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of research reports. Evercore ISI raised their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. UBS Group lifted their price target on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Finally, Barclays lifted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $152.92.

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.