GoDaddy Inc. (NYSE:GDDY) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,693 shares of the technology company’s stock after selling 297 shares during the period. Hartford Investment Management Co.’s holdings in GoDaddy were worth $1,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its position in GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after acquiring an additional 84,550 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. FMR LLC raised its position in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GoDaddy by 17.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction 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 owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,482 shares of company stock worth $4,709,650 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Up 2.6 %

GDDY stock opened at $212.99 on Friday. GoDaddy Inc. has a one year low of $108.00 and a one year high of $216.00. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average is $204.59 and its 200 day moving average is $179.30. The firm has a market cap of $29.90 billion, a PE ratio of 16.46 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. On average, research analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent analyst reports. Raymond James upped their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.53.

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.