GoDaddy Inc. (NYSE:GDDY) Stake Trimmed by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 21.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,640 shares of the technology company’s stock after selling 1,239 shares during the period. Wilmington Savings Fund Society FSB’s holdings in GoDaddy were worth $916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in 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 acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 period. FMR LLC lifted its position in shares of GoDaddy by 19.8% in the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GoDaddy by 17.5% during 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 worth $214,584,000 after purchasing an additional 203,909 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in GoDaddy by 25.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock valued at $90,150,000 after purchasing an additional 117,028 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the transaction, the director now owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,483 shares of company stock valued at $4,893,633. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

GDDY has been the subject of a number of research analyst reports. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark increased their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company started coverage on GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Robert W. Baird boosted their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.53.

GoDaddy Stock Performance

NYSE:GDDY opened at $211.47 on Tuesday. The firm has a market capitalization of $29.69 billion, a PE ratio of 16.34 and a beta of 1.15. GoDaddy Inc. has a 1 year low of $107.92 and a 1 year high of $216.00. 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 firm’s fifty day simple moving average is $204.17 and its 200 day simple moving average is $178.19.

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.