Hartford Investment Management Co. Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Hartford Investment Management Co. decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,693 shares of the technology company’s stock after selling 297 shares during the quarter. Hartford Investment Management Co.’s holdings in GoDaddy were worth $1,716,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GDDY. WCM Investment Management LLC boosted its position in 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 worth $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares in the last quarter. FMR LLC boosted its holdings in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Intech Investment Management LLC grew its position in shares of GoDaddy by 498.7% in the third quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock valued at $39,723,000 after purchasing an additional 211,051 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GoDaddy by 17.5% in the third 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. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent research reports. B. Riley boosted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Finally, Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.53.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,482 shares of company stock valued at $4,709,650 in the last ninety days. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 2.6 %

Shares of NYSE GDDY opened at $212.99 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market capitalization of $29.90 billion, a PE ratio of 16.46 and a beta of 1.15. GoDaddy Inc. has a twelve month low of $108.00 and a twelve month high of $216.00. The stock has a fifty day simple moving average of $204.59 and a 200-day simple moving average of $179.30.

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