Prelude Capital Management LLC Lowers Position in GoDaddy Inc. (NYSE:GDDY)

Prelude Capital Management LLC lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,359 shares of the technology company’s stock after selling 616 shares during the period. Prelude Capital Management LLC’s holdings in GoDaddy were worth $1,971,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GDDY. Achmea Investment Management B.V. bought a new position in GoDaddy in the first quarter valued at $31,000. Ronald Blue Trust Inc. increased its stake in GoDaddy by 119.4% in the first quarter. Ronald Blue Trust Inc. now owns 509 shares of the technology company’s stock valued at $38,000 after acquiring an additional 277 shares during the last quarter. Venturi Wealth Management LLC bought a new position in GoDaddy in the first quarter valued at $41,000. Penserra Capital Management LLC bought a new position in GoDaddy in the fourth quarter valued at $62,000. Finally, Cutler Group LLC CA increased its stake in GoDaddy by 214.4% in the first quarter. Cutler Group LLC CA now owns 1,245 shares of the technology company’s stock valued at $96,000 after acquiring an additional 849 shares during the last quarter. Hedge funds and other institutional investors own 95.03% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $75.06 on Thursday. The stock has a market capitalization of $11.04 billion, a PE ratio of 36.26 and a beta of 0.95. GoDaddy Inc. has a 1 year low of $64.65 and a 1 year high of $85.32. The business’s 50-day moving average is $73.64 and its 200 day moving average is $73.96.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. GoDaddy had a negative return on equity of 83.74% and a net margin of 7.78%. As a group, equities research analysts anticipate that GoDaddy Inc. will post 2.81 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 11,125 shares of GoDaddy stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $75.05, for a total transaction of $834,931.25. Following the sale, the chief operating officer now directly owns 172,716 shares of the company’s stock, valued at approximately $12,962,335.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Nick Daddario sold 342 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $73.57, for a total value of $25,160.94. Following the sale, the chief accounting officer now directly owns 19,689 shares of the company’s stock, valued at approximately $1,448,519.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 11,125 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $75.05, for a total value of $834,931.25. Following the completion of the sale, the chief operating officer now directly owns 172,716 shares in the company, valued at $12,962,335.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,419 shares of company stock valued at $3,290,478. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on GDDY. Barclays reduced their target price on GoDaddy from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. B. Riley raised their price objective on GoDaddy from $102.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of GoDaddy in a research note on Wednesday. StockNews.com raised GoDaddy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 5th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $84.00 price objective on shares of GoDaddy in a research note on Friday, August 4th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.45.

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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.