GoDaddy Inc. (NYSE:GDDY) Stock Position Reduced by AlphaQuest LLC

AlphaQuest LLC decreased its stake in GoDaddy Inc. (NYSE:GDDY) by 97.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174 shares of the technology company’s stock after selling 5,728 shares during the period. AlphaQuest LLC’s holdings in GoDaddy were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC increased its position in GoDaddy by 42.8% in the 3rd quarter. Natixis Advisors LLC now owns 30,409 shares of the technology company’s stock valued at $4,768,000 after acquiring an additional 9,115 shares during the period. Prospera Financial Services Inc acquired a new position in shares of GoDaddy in the 3rd quarter worth $807,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of GoDaddy in the 3rd quarter worth $472,000. PNC Financial Services Group Inc. grew its holdings in shares of GoDaddy by 18.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,285 shares of the technology company’s stock worth $985,000 after acquiring an additional 986 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of GoDaddy in the 3rd quarter worth $7,166,000. Institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of several recent analyst reports. Citigroup raised their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target for the company. Raymond James boosted their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Benchmark boosted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Trading Down 0.1 %

Shares of GDDY opened at $180.49 on Friday. GoDaddy Inc. has a 12-month low of $118.39 and a 12-month 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 capitalization of $25.51 billion, a price-to-earnings ratio of 27.98 and a beta of 1.25. The stock’s 50-day moving average price is $191.37 and its 200 day moving average price is $182.97.

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 the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the sale, the director now directly owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. The trade was a 2.12 % 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, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is currently owned by corporate insiders.

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.