OVERSEA CHINESE BANKING Corp Ltd Reduces Position in GoDaddy Inc. (NYSE:GDDY)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 36.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,108 shares of the technology company’s stock after selling 632 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in GoDaddy were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its stake in shares of GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after acquiring an additional 147,105 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of GoDaddy by 2.5% during the 3rd 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 boosted its stake in shares of GoDaddy by 7,083.4% during the 4th 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. FMR LLC boosted its stake 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 acquiring 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 shares of GoDaddy by 17.5% during 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 acquiring an additional 203,909 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the transaction, the chief financial officer now directly owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,480 shares of company stock worth $3,816,029. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GDDY. Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler lifted their target price 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. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Wells Fargo & Company began coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Finally, B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $180.72 on Friday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market cap of $25.55 billion, a P/E ratio of 28.02 and a beta of 1.25. The firm’s fifty day moving average is $191.62 and its two-hundred day moving average is $182.88. GoDaddy Inc. has a 52-week low of $118.39 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal 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.