Aberdeen Group plc Sells 22,166 Shares of GoDaddy Inc. $GDDY

Aberdeen Group plc trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 20.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,605 shares of the technology company’s stock after selling 22,166 shares during the period. Aberdeen Group plc owned approximately 0.06% of GoDaddy worth $11,986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GDDY. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of GoDaddy by 20.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock worth $17,888,000 after purchasing an additional 17,200 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in GoDaddy by 14.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after buying an additional 10,631 shares during the period. GDS Wealth Management lifted its holdings in GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after acquiring an additional 8,388 shares in the last quarter. Neo Ivy Capital Management acquired a new position in GoDaddy in the second quarter valued at about $470,000. Finally, Quantbot Technologies LP bought a new stake in shares of GoDaddy in the second quarter worth about $15,659,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s 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 completion of the sale, the chief executive officer owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the transaction, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,615 shares of company stock worth $1,743,102. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Cantor Fitzgerald cut their price target on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. UBS Group lowered their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Morgan Stanley cut their price objective on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, B. Riley Financial reduced their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Trading Down 2.1%

GoDaddy stock opened at $88.65 on Friday. The stock has a 50-day simple moving average of $109.44 and a 200 day simple moving average of $127.42. The stock has a market capitalization of $11.98 billion, a P/E ratio of 15.31, a PEG ratio of 0.82 and a beta of 0.94. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. GoDaddy Inc. has a 52 week low of $87.13 and a 52 week high of $193.55.

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.