Prudential PLC Sells 14,194 Shares of GoDaddy Inc. (NYSE:GDDY)

Prudential PLC cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 23.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,935 shares of the technology company’s stock after selling 14,194 shares during the quarter. Prudential PLC’s holdings in GoDaddy were worth $9,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC purchased a new stake in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the 4th quarter valued at $43,000. Rakuten Securities Inc. increased its holdings in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new position in shares of GoDaddy in the fourth quarter worth $49,000. Finally, OFI Invest Asset Management bought a new position in shares of GoDaddy during the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $164.34 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 12 month low of $119.76 and a 12 month high of $216.00. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 25.48 and a beta of 1.25. The company’s 50 day moving average is $186.96 and its two-hundred day moving average is $184.82.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.18 billion. As a group, research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on GDDY. Morgan Stanley lifted their price objective on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. UBS Group boosted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company began coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Finally, B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Transactions at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company’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 value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,643,589 over the last 90 days. Company insiders own 0.61% of the company’s stock.

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.