Nisa Investment Advisors LLC Lowers Holdings in GoDaddy Inc. (NYSE:GDDY)

Nisa Investment Advisors LLC lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 65.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,187 shares of the technology company’s stock after selling 18,887 shares during the quarter. Nisa Investment Advisors LLC’s holdings in GoDaddy were worth $2,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in GoDaddy by 13.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after acquiring an additional 88 shares in the last quarter. Lindbrook Capital LLC increased its holdings in GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after acquiring an additional 99 shares during the last quarter. Finally, Equitable Trust Co. lifted its stake in GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $207.44 on Monday. The business has a fifty day moving average of $200.75 and a 200 day moving average of $173.54. The stock has a market cap of $29.12 billion, a P/E ratio of 16.03 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 52-week low of $106.42 and a 52-week high of $211.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird lifted their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their target price on GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Citigroup boosted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Raymond James increased their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $198.07.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares in the company, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,483 shares of company stock worth $4,759,553. Company insiders own 0.61% of the company’s stock.

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.