Wellington Management Group LLP Sells 60,983 Shares of GoDaddy Inc. (NYSE:GDDY)

Wellington Management Group LLP decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,836,130 shares of the technology company’s stock after selling 60,983 shares during the period. Wellington Management Group LLP owned 2.02% of GoDaddy worth $444,648,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. grew its stake in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after buying an additional 74 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after buying an additional 99 shares during the last quarter. Finally, Equitable Trust Co. raised its position in shares of GoDaddy by 1.3% during the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Down 1.0 %

Shares of GDDY stock opened at $206.53 on Friday. The firm has a 50-day moving average price of $175.50 and a 200 day moving average price of $157.95. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $210.30. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 15.96 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.89 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that GoDaddy Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the transaction, the chief executive officer now directly owns 348,956 shares in the company, valued at approximately $54,297,553.60. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,925 shares of company stock valued at $4,237,184. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GDDY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Financial Group lifted their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $181.57.

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.