Vinva Investment Management Ltd Lowers Stake in GoDaddy Inc. (NYSE:GDDY)

Vinva Investment Management Ltd reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 37.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,876 shares of the technology company’s stock after selling 46,858 shares during the period. Vinva Investment Management Ltd’s holdings in GoDaddy were worth $15,333,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new position in GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in GoDaddy in the fourth quarter worth about $43,000. Rakuten Securities Inc. raised its holdings in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 165 shares during the last quarter. Friedenthal Financial purchased a new position in GoDaddy in the fourth quarter worth about $49,000. Finally, OFI Invest Asset Management purchased a new position in GoDaddy in the fourth quarter worth about $52,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $178.18 on Wednesday. The firm has a 50 day moving average of $192.25 and a 200 day moving average of $182.91. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 27.63 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $118.14 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 over the last three months. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Piper Sandler lifted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

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.