JPMorgan Chase & Co. Sells 210,136 Shares of GoDaddy Inc. (NYSE:GDDY)

JPMorgan Chase & Co. decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,729,063 shares of the technology company’s stock after selling 210,136 shares during the period. JPMorgan Chase & Co.’s holdings in GoDaddy were worth $341,265,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC raised its stake in GoDaddy by 18.9% during the third quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock valued at $2,771,000 after buying an additional 2,803 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of GoDaddy by 20.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 90,810 shares of the technology company’s stock worth $14,237,000 after purchasing an additional 15,452 shares during the last quarter. FMR LLC boosted its stake in GoDaddy by 19.8% in 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 in the last quarter. Glenmede Trust Co. NA grew its position in GoDaddy by 41.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,086 shares of the technology company’s stock valued at $484,000 after purchasing an additional 902 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 valued at $214,584,000 after purchasing an additional 203,909 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $178.89 on Monday. The firm’s 50 day moving average price is $189.80 and its 200-day moving average price is $184.41. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a market capitalization of $25.29 billion, a PE ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,816,029. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group increased their target price on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays lifted their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company assumed coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Finally, Citigroup lifted their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.