Mutual of America Capital Management LLC Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Mutual of America Capital Management LLC cut its stake in GoDaddy Inc. (NYSE:GDDY) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,908 shares of the technology company’s stock after selling 3,191 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of GoDaddy worth $9,958,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $181,687,000. Federated Hermes Inc. increased its stake in shares of GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of GoDaddy by 7,379.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after purchasing an additional 714,075 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of GoDaddy by 1,309.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 509,002 shares of the technology company’s stock worth $60,408,000 after purchasing an additional 472,894 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GDDY. Raymond James assumed coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. Royal Bank of Canada raised their target price on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays raised their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Morgan Stanley raised their target price on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Evercore ISI raised their target price on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Four research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.92.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 4,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the sale, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The disclosure for this sale can be found here. Insiders have sold 50,071 shares of company stock valued at $6,875,606 in the last quarter. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.8 %

Shares of NYSE:GDDY traded up $1.16 during midday trading on Tuesday, hitting $144.81. 358,311 shares of the company’s stock traded hands, compared to its average volume of 1,675,563. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $20.66 billion, a PE ratio of 12.01 and a beta of 1.14. The firm’s fifty day moving average price is $137.06 and its two-hundred day moving average price is $121.91. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $145.36.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

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.