GoDaddy Inc. $GDDY Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 7.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 178,769 shares of the technology company’s stock after selling 14,142 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of GoDaddy worth $24,461,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GDDY. Sivia Capital Partners LLC raised its stake in shares of GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock valued at $589,000 after acquiring an additional 1,552 shares during the period. Ameritas Advisory Services LLC purchased a new position in GoDaddy in the second quarter valued at about $68,000. Callan Family Office LLC acquired a new position in shares of GoDaddy during the second quarter worth about $367,000. IFP Advisors Inc grew its stake in shares of GoDaddy by 3.4% in the second quarter. IFP Advisors Inc now owns 3,421 shares of the technology company’s stock valued at $616,000 after buying an additional 113 shares in the last quarter. Finally, PDS Planning Inc purchased a new stake in shares of GoDaddy during the 2nd quarter valued at about $218,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $97.38 on Friday. The stock has a market cap of $13.16 billion, a PE ratio of 16.82, a P/E/G ratio of 0.88 and a beta of 0.94. The stock’s 50 day simple moving average is $116.06 and its 200-day simple moving average is $131.74. GoDaddy Inc. has a 1 year low of $92.22 and a 1 year high of $214.32. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,615 shares of company stock worth $1,743,102 in the last three months. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore dropped their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Morgan Stanley decreased their target price on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Royal Bank Of Canada set a $70.00 price target on shares of GoDaddy in a report on Wednesday, January 7th. Finally, Jefferies Financial Group lowered their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.21.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.