Wedge Capital Management L L P NC Sells 10,427 Shares of GoDaddy Inc. (NYSE:GDDY)

Wedge Capital Management L L P NC decreased its position in GoDaddy Inc. (NYSE:GDDY) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,528 shares of the technology company’s stock after selling 10,427 shares during the quarter. Wedge Capital Management L L P NC’s holdings in GoDaddy were worth $5,046,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GDDY. Federated Hermes Inc. raised its holdings in GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after acquiring an additional 695,897 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of GoDaddy by 88.7% in the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after acquiring an additional 674,719 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of GoDaddy by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after acquiring an additional 561,614 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of GoDaddy by 3,382.2% in the third quarter. Principal Financial Group Inc. now owns 546,359 shares of the technology company’s stock worth $40,693,000 after acquiring an additional 530,669 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. B. Riley increased their target price on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Piper Sandler increased their target price on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. increased their target price on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Morgan Stanley increased their price objective on GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.18.

Insiders Place Their Bets

In other news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,234 shares of company stock valued at $13,534,946. Insiders own 0.54% of the company’s stock.

GoDaddy Trading Up 0.3 %

Shares of NYSE:GDDY opened at $123.79 on Thursday. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 12.92 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50-day simple moving average is $118.20 and its two-hundred day simple moving average is $104.29. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. Analysts expect that GoDaddy Inc. will post 4.76 EPS for the current year.

GoDaddy Company 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.