Aberdeen Group plc Lowers Holdings in GoDaddy Inc. $GDDY

Aberdeen Group plc trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 9.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 76,715 shares of the technology company’s stock after selling 7,890 shares during the period. Aberdeen Group plc’s holdings in GoDaddy were worth $9,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. Hemington Wealth Management grew its position in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of GoDaddy during the third quarter worth about $31,000. Brown Brothers Harriman & Co. increased its stake in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after acquiring an additional 150 shares during the period. Rossby Financial LCC increased its stake in shares of GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after acquiring an additional 158 shares during the period. Finally, Bayforest Capital Ltd increased its stake in shares of GoDaddy by 141.5% during the third quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after acquiring an additional 208 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GoDaddy stock opened at $83.33 on Wednesday. GoDaddy Inc. has a one year low of $73.06 and a one year high of $193.55. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. The business has a fifty day moving average of $88.34 and a two-hundred day moving average of $113.01. The company has a market cap of $11.11 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.98.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Morgan Stanley dropped their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Benchmark dropped their price target on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Piper Sandler assumed coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $125.57.

Insider Transactions at GoDaddy

In related news, Director Leah Sweet sold 650 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total value of $56,459.00. Following the sale, the director owned 11,414 shares in the company, valued at $991,420.04. This represents a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 17,406 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the sale, the chief financial officer owned 113,003 shares in the company, valued at approximately $10,056,136.97. This represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is currently owned by insiders.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.