AIA Group Ltd Has $3.42 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

AIA Group Ltd cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,174 shares of the technology company’s stock after selling 3,373 shares during the period. AIA Group Ltd’s holdings in GoDaddy were worth $3,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its holdings in shares of GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after purchasing an additional 928,273 shares in the last quarter. Guidance Capital Inc. lifted its stake in GoDaddy by 9.6% in the fourth quarter. Guidance Capital Inc. now owns 3,380 shares of the technology company’s stock valued at $348,000 after buying an additional 297 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $510,000. Lecap Asset Management Ltd. acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $2,328,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy during the fourth quarter worth $4,204,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 28,392 shares of the firm’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 directly owns 120,952 shares in the company, valued at $13,370,034.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,234 shares of company stock worth $13,534,946. Corporate insiders own 0.54% of the company’s stock.

GoDaddy Stock Down 0.7 %

NYSE:GDDY traded down $0.90 during trading hours on Thursday, reaching $121.46. The company had a trading volume of 693,285 shares, compared to its average volume of 1,476,090. The firm has a market cap of $17.31 billion, a price-to-earnings ratio of 12.89 and a beta of 1.12. The business’s 50-day simple moving average is $117.25 and its two-hundred day simple moving average is $102.60. 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 twelve month low of $67.43 and a twelve month high of $127.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, equities analysts expect that GoDaddy Inc. will post 4.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 target price for the company. Piper Sandler upped their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Robert W. Baird boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, B. Riley raised their target price on shares of GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.18.

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.