Bridgewater Associates LP Sells 13,407 Shares of GoDaddy Inc. (NYSE:GDDY)

Bridgewater Associates LP trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,856 shares of the technology company’s stock after selling 13,407 shares during the period. Bridgewater Associates LP owned 0.17% of GoDaddy worth $37,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after buying an additional 274,014 shares during the last quarter. Federated Hermes Inc. lifted its position in GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Fiera Capital Corp grew its holdings in GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after purchasing an additional 13,206 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in GoDaddy by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 525,944 shares of the technology company’s stock worth $73,480,000 after purchasing an additional 11,121 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GDDY shares. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James raised their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays lifted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Five investment 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. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Stock Up 1.2 %

NYSE:GDDY opened at $199.73 on Wednesday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company’s fifty day moving average price is $168.48 and its 200-day moving average price is $154.54. GoDaddy Inc. has a 1-year low of $94.50 and a 1-year high of $202.56. The firm has a market capitalization of $28.04 billion, a P/E ratio of 15.44 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. As a group, equities research analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock valued at $3,897,255 over the last ninety 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.