First Trust Advisors LP Reduces Position in GoDaddy Inc. $GDDY

First Trust Advisors LP decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,710 shares of the technology company’s stock after selling 25,701 shares during the period. First Trust Advisors LP owned 0.41% of GoDaddy worth $75,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hemington Wealth Management grew its stake in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of GoDaddy in the third quarter worth $31,000. Rossby Financial LCC grew its position in shares of GoDaddy by 125.4% in the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock valued at $49,000 after purchasing an additional 208 shares during the period. Finally, Mather Group LLC. purchased a new stake in GoDaddy during the 3rd quarter worth about $61,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GDDY. Benchmark decreased their price target on GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada cut their price objective on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Cantor Fitzgerald reduced their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. UBS Group decreased their target price on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Morgan Stanley lowered their target price on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.93.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 650 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the sale, the director directly owned 11,414 shares in the company, valued at $991,420.04. This represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 17,406 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the transaction, the chief financial officer directly owned 113,003 shares in the company, valued at $10,056,136.97. This trade represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 63,005 shares of company stock worth $5,690,243 in the last quarter. 0.70% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $91.78 on Tuesday. The business has a 50 day moving average of $100.54 and a 200 day moving average of $122.37. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.86 and a beta of 0.96. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $193.55. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.22. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.GoDaddy’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.