Landscape Capital Management L.L.C. Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

Landscape Capital Management L.L.C. lowered its holdings in GoDaddy Inc. (NYSE:GDDY) by 25.9% during the fourth quarter, HoldingsChannel reports. The fund owned 5,186 shares of the technology company’s stock after selling 1,808 shares during the period. Landscape Capital Management L.L.C.’s holdings in GoDaddy were worth $1,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilltop Holdings Inc. acquired a new stake in GoDaddy during the third quarter worth approximately $357,000. Redwood Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth $465,000. Royal London Asset Management Ltd. lifted its position in GoDaddy by 4.1% in the third quarter. Royal London Asset Management Ltd. now owns 58,067 shares of the technology company’s stock valued at $9,104,000 after acquiring an additional 2,270 shares during the last quarter. Quantinno Capital Management LP boosted its stake in GoDaddy by 19.6% in the third quarter. Quantinno Capital Management LP now owns 13,803 shares of the technology company’s stock valued at $2,164,000 after acquiring an additional 2,260 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,643,589 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $164.34 on Friday. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00. The company has a 50-day moving average price of $186.96 and a 200 day moving average price of $185.04. The company has a market cap of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler boosted their target price on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. B. Riley raised their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Benchmark upped their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus 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.