QRG Capital Management Inc. Has $683,000 Position in GoDaddy Inc. (NYSE:GDDY)

QRG Capital Management Inc. reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 85.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,432 shares of the technology company’s stock after selling 39,195 shares during the quarter. QRG Capital Management Inc.’s holdings in GoDaddy were worth $683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Massmutual Trust Co. FSB ADV increased its stake in GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of GoDaddy during the 3rd quarter worth about $43,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth about $44,000. UMB Bank n.a. acquired a new position in shares of GoDaddy during the 4th quarter worth about $50,000. Finally, Tobam acquired a new position in shares of GoDaddy during the 4th quarter worth about $60,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GDDY. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler lifted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Evercore ISI lifted their target price on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Finally, Morgan Stanley lifted their target price on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $142.73.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 8,687 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $991,273.57. Following the completion of the sale, the chief executive officer now owns 454,031 shares of the company’s stock, valued at approximately $51,809,477.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark Mccaffrey sold 28,392 shares of the company’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 $3,138,451.68. Following the completion of the sale, the chief financial officer now owns 120,952 shares of the company’s stock, valued at approximately $13,370,034.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $991,273.57. Following the transaction, the chief executive officer now owns 454,031 shares of the company’s stock, valued at $51,809,477.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,292 shares of company stock valued at $14,567,860. Company insiders own 0.54% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $135.69 on Friday. 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 has a market capitalization of $19.33 billion, a P/E ratio of 11.27 and a beta of 1.09. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $136.90. The firm has a 50-day moving average price of $123.64 and a two-hundred day moving average price of $110.10.

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, beating analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analysts anticipate that GoDaddy Inc. will post 4.81 earnings per share for the current year.

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.