Prudential Financial Inc. Has $16.35 Million Position in GoDaddy Inc. (NYSE:GDDY)

Prudential Financial Inc. trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 17.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 82,835 shares of the technology company’s stock after selling 17,305 shares during the period. Prudential Financial Inc.’s holdings in GoDaddy were worth $16,349,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in 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 buying an additional 147,105 shares during the period. Geode Capital Management LLC raised its stake in shares of GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after acquiring an additional 84,550 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 3,356,678 shares during the period. FMR LLC grew its stake 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now owns 333,153 shares in the company, valued at approximately $66,300,778.53. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Performance

Shares of GDDY opened at $183.02 on Friday. The stock has a 50-day moving average of $190.24 and a 200-day moving average of $183.76. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market cap of $25.87 billion, a PE ratio of 28.38 and a beta of 1.25.

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

Analysts Set New Price Targets

Several brokerages have commented on GDDY. Piper Sandler lifted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. UBS Group lifted their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Raymond James upped their target price on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. B. Riley raised their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy 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.