Brown Advisory Inc. Sells 176 Shares of GoDaddy Inc. (NYSE:GDDY)

Brown Advisory Inc. lowered its position in GoDaddy Inc. (NYSE:GDDY) by 9.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,695 shares of the technology company’s stock after selling 176 shares during the period. Brown Advisory Inc.’s holdings in GoDaddy were worth $305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in GoDaddy in the fourth quarter worth about $356,038,000. Assenagon Asset Management S.A. grew its stake in shares of GoDaddy by 1,412.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company’s stock worth $242,727,000 after buying an additional 1,258,324 shares during the last quarter. Canada Pension Plan Investment Board increased its position in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock valued at $273,582,000 after buying an additional 719,000 shares in the last quarter. GAMMA Investing LLC increased its position in GoDaddy by 18,248.7% during the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company’s stock valued at $92,516,000 after buying an additional 510,780 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in GoDaddy by 88.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock valued at $213,630,000 after buying an additional 507,374 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $167.86 on Wednesday. The firm’s 50 day moving average price is $179.84 and its 200-day moving average price is $184.33. The stock has a market capitalization of $23.92 billion, a PE ratio of 32.28 and a beta of 1.05. GoDaddy Inc. has a twelve month low of $140.11 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.76 earnings per share. Equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent analyst reports. Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $225.00 target price on shares of GoDaddy in a research note on Monday, June 23rd. Citigroup cut their price target on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Morgan Stanley lowered their price objective on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group reduced their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.86.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the sale, the chief executive officer directly owned 431,015 shares of the company’s stock, valued at $77,500,807.15. This represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 16th. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the transaction, the chief operating officer directly owned 254,949 shares of the company’s stock, valued at $44,860,826.04. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,757 shares of company stock worth $12,074,330 in the last three months. Insiders own 0.61% of the company’s stock.

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.