Petra Financial Advisors Inc. Decreases Stock Position in GoDaddy Inc. (NYSE:GDDY)

Petra Financial Advisors Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,054 shares of the technology company’s stock after selling 660 shares during the period. Petra Financial Advisors Inc.’s holdings in GoDaddy were worth $603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC raised its stake in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares during the last quarter. WCM Investment Management LLC raised its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. FMR LLC raised its stake in 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 raised 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 valued at $214,584,000 after purchasing an additional 203,909 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GDDY has been the subject of several analyst reports. Raymond James boosted their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Piper Sandler upped their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Barclays upped their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Up 2.2 %

GDDY opened at $179.97 on Tuesday. The firm has a 50 day moving average price of $192.60 and a 200 day moving average price of $182.83. The company has a market cap of $25.44 billion, a PE ratio of 27.90 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $117.33 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,480 shares of company stock worth $3,641,819 in the last 90 days. 0.61% of the stock is owned by company 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.