CWA Asset Management Group LLC Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

CWA Asset Management Group LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 87.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,002 shares of the technology company’s stock after selling 14,069 shares during the quarter. CWA Asset Management Group LLC’s holdings in GoDaddy were worth $361,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GDDY. Advisors Capital Management LLC lifted its holdings in GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after purchasing an additional 55 shares in the last quarter. BNP Paribas lifted its holdings in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after buying an additional 59 shares in the last quarter. City Holding Co. lifted its holdings in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after buying an additional 60 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its stake in GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company’s stock worth $1,435,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GDDY. Wall Street Zen cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Jefferies Financial Group decreased their price target on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Piper Sandler upped their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Barclays decreased their target price on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.86.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $89,925.00. Following the completion of the transaction, the director now directly owns 21,621 shares in the company, valued at $3,888,536.85. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,632 shares of company stock worth $12,602,635. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Down 1.0%

Shares of GDDY opened at $174.70 on Friday. GoDaddy Inc. has a twelve month low of $136.75 and a twelve month high of $216.00. The company has a market cap of $24.89 billion, a P/E ratio of 33.60 and a beta of 1.07. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The company’s fifty day simple moving average is $180.84 and its 200-day simple moving average is $187.90.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company earned $2.76 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

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.