Bridgewater Associates LP Sells 25,754 Shares of GoDaddy Inc. (NYSE:GDDY)

Bridgewater Associates LP trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 213,102 shares of the technology company’s stock after selling 25,754 shares during the quarter. Bridgewater Associates LP owned 0.15% of GoDaddy worth $42,060,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

GDDY has been the subject of a number of recent research reports. B. Riley upped their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. UBS Group increased their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.20.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $3,546,970. 0.61% of the stock is owned by insiders.

GoDaddy Trading Up 0.0 %

Shares of GoDaddy stock opened at $172.08 on Tuesday. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 26.68 and a beta of 1.19. The business has a fifty day simple moving average of $180.10 and a two-hundred day simple moving average of $185.65. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its 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 return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Research analysts forecast that GoDaddy Inc. will post 6.63 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.