Principal Financial Group Inc. Sells 25,299 Shares of GoDaddy Inc. (NYSE:GDDY)

Principal Financial Group Inc. trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 521,060 shares of the technology company’s stock after selling 25,299 shares during the period. Principal Financial Group Inc. owned about 0.37% of GoDaddy worth $55,316,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GDDY. Massmutual Trust Co. FSB ADV grew its position in shares of GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after acquiring an additional 205 shares during the period. Fifth Third Bancorp bought a new position in shares of GoDaddy during the 3rd quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of GoDaddy during the 3rd quarter valued at approximately $44,000. UMB Bank n.a. bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $50,000. Finally, Tobam bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $60,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $136.45 on Thursday. The firm has a market cap of $19.44 billion, a PE ratio of 11.33 and a beta of 1.09. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $136.76. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The company’s fifty day simple moving average is $123.22 and its two-hundred day simple moving average is $109.93.

GoDaddy (NYSE:GDDY) last announced 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. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. As a group, equities analysts expect that GoDaddy Inc. will post 4.81 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on GDDY. Robert W. Baird upped their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Morgan Stanley upped their price target on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. UBS Group upped their price target on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Evercore ISI upped their price target on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Finally, Barclays upped their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.73.

Insider Activity

In other news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated 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 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 at the SEC website. In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of GoDaddy stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,234 shares of company stock valued at $14,025,346. Corporate insiders own 0.54% of the company’s stock.

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.