Allspring Global Investments Holdings LLC Trims Holdings in GoDaddy Inc. (NYSE:GDDY)

Allspring Global Investments Holdings LLC lowered its position in GoDaddy Inc. (NYSE:GDDY) by 71.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,069 shares of the technology company’s stock after selling 2,648 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GoDaddy were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its stake in GoDaddy by 7.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock valued at $144,000 after acquiring an additional 137 shares during the period. Whittier Trust Co. lifted its position in GoDaddy by 9.1% during the third quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock valued at $125,000 after purchasing an additional 141 shares during the period. Quent Capital LLC boosted its holdings in GoDaddy by 30.8% in the fourth quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after purchasing an additional 150 shares during the last quarter. Fifth Third Bancorp grew its position in GoDaddy by 27.4% during the 4th quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock worth $77,000 after purchasing an additional 157 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of GoDaddy by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 39,966 shares of the technology company’s stock valued at $2,977,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 0.7 %

Shares of NYSE GDDY opened at $125.01 on Monday. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 13.05 and a beta of 1.12. The company’s 50-day simple moving average is $118.76 and its 200-day simple moving average is $105.18. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities analysts predict that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Analyst Ratings Changes

GDDY has been the subject of several analyst reports. Barclays boosted their price objective on GoDaddy from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Robert W. Baird upped their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Piper Sandler raised their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. B. Riley boosted their target price 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. Finally, Evercore ISI downgraded shares of GoDaddy from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $135.18.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,687 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $991,273.57. Following the transaction, the chief executive officer now owns 454,031 shares in the company, valued at approximately $51,809,477.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,687 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $991,273.57. Following the completion of the sale, the chief executive officer now owns 454,031 shares in the company, valued at approximately $51,809,477.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 directly owns 25,263 shares in the company, valued at $2,792,572.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is owned by corporate insiders.

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.