Mn Services Vermogensbeheer B.V. Sells 2,600 Shares of GoDaddy Inc. (NYSE:GDDY)

Mn Services Vermogensbeheer B.V. reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,900 shares of the technology company’s stock after selling 2,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in GoDaddy were worth $7,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in GoDaddy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after acquiring an additional 107,949 shares during the period. Starboard Value LP raised its position in GoDaddy by 23.9% during the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after purchasing an additional 1,973,118 shares during the last quarter. BlackRock Inc. lifted its holdings in GoDaddy by 2.0% during the 1st quarter. BlackRock Inc. now owns 8,512,278 shares of the technology company’s stock worth $661,574,000 after buying an additional 163,174 shares during the period. Ameriprise Financial Inc. grew its position in shares of GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after buying an additional 561,614 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after buying an additional 5,133,332 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Down 1.5 %

Shares of NYSE:GDDY opened at $121.42 on Tuesday. The firm has a market cap of $17.30 billion, a P/E ratio of 12.67 and a beta of 1.12. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15. The business’s 50 day simple moving average is $116.78 and its two-hundred day simple moving average is $102.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47.

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

Insider Activity

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

Analyst Ratings Changes

GDDY has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a research note on Thursday, March 7th. B. Riley upped their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Raymond James began coverage on shares of GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. Piper Sandler boosted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $135.18.

About GoDaddy

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.