Bison Wealth LLC Trims Stake in GoDaddy Inc. (NYSE:GDDY)

Bison Wealth LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,146 shares of the technology company’s stock after selling 1,918 shares during the period. Bison Wealth LLC’s holdings in GoDaddy were worth $759,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Achmea Investment Management B.V. purchased a new position in shares of GoDaddy during the 1st quarter valued at $31,000. Quent Capital LLC grew its position in GoDaddy by 2,113.6% in the third quarter. Quent Capital LLC now owns 487 shares of the technology company’s stock worth $36,000 after acquiring an additional 465 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares in the last quarter. Fifth Third Bancorp purchased a new position in GoDaddy in the third quarter worth $43,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in GoDaddy in the third quarter worth $44,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now owns 25,263 shares in the company, valued at $2,792,572.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the sale, the chief executive officer now owns 394,423 shares in the company, valued at approximately $43,599,518.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,234 shares of company stock valued at $13,534,946. Corporate insiders own 0.54% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $121.42 on Tuesday. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 12.67 and a beta of 1.12. The company has a 50-day moving average price of $116.78 and a 200-day moving average price of $102.12. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 12 month low of $67.43 and a 12 month high of $127.15.

GoDaddy (NYSE:GDDY) last released its quarterly 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 net margin of 32.74% and a negative return on equity of 89.25%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, equities analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GDDY. Robert W. Baird upped their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Royal Bank of Canada restated an “outperform” rating and set a $124.00 price target on shares of GoDaddy in a research report on Thursday, March 7th. Barclays upped their price target on shares of GoDaddy from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Evercore ISI lowered shares of GoDaddy from an “outperform” rating to an “in-line” rating and upped their price target for the company from $100.00 to $110.00 in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.18.

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.