Prelude Capital Management LLC Sells 27,472 Shares of GoDaddy Inc. (NYSE:GDDY)

Prelude Capital Management LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDYGet Rating) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,043 shares of the technology company’s stock after selling 27,472 shares during the quarter. Prelude Capital Management LLC’s holdings in GoDaddy were worth $3,937,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock worth $1,356,131,000 after purchasing an additional 107,949 shares during the last quarter. Capital International Investors increased its stake in shares of GoDaddy by 11.6% in the 4th quarter. Capital International Investors now owns 15,042,125 shares of the technology company’s stock valued at $1,276,275,000 after acquiring an additional 1,569,106 shares in the last quarter. Starboard Value LP increased its stake in shares of GoDaddy by 21.5% in the 1st quarter. Starboard Value LP now owns 8,250,420 shares of the technology company’s stock valued at $690,560,000 after acquiring an additional 1,459,021 shares in the last quarter. Atlanta Capital Management Co. L L C increased its stake in shares of GoDaddy by 70.3% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,775,841 shares of the technology company’s stock valued at $320,418,000 after acquiring an additional 1,558,150 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of GoDaddy by 19.4% in the 4th quarter. Geode Capital Management LLC now owns 2,462,044 shares of the technology company’s stock valued at $208,651,000 after acquiring an additional 399,237 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $78.05 on Friday. The company has a debt-to-equity ratio of 46.37, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 37.71 and a beta of 0.93. The firm’s fifty day moving average price is $75.82 and its two-hundred day moving average price is $76.90. GoDaddy Inc. has a 1 year low of $64.81 and a 1 year high of $88.32.

GoDaddy (NYSE:GDDYGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. GoDaddy had a net margin of 8.58% and a negative return on equity of 147.44%. As a group, analysts anticipate that GoDaddy Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GDDY. Barclays lifted their price objective on shares of GoDaddy from $104.00 to $107.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Jefferies Financial Group reduced their price target on shares of GoDaddy from $110.00 to $100.00 in a research report on Tuesday, May 31st. Morgan Stanley lifted their price target on shares of GoDaddy from $91.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, August 4th. Raymond James reduced their price target on shares of GoDaddy from $108.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 4th. Finally, Evercore ISI lifted their price target on shares of GoDaddy to $91.00 in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $100.75.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 1,991 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $69.86, for a total value of $139,091.26. Following the transaction, the chief executive officer now directly owns 220,544 shares of the company’s stock, valued at approximately $15,407,203.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Amanpal Singh Bhutani sold 1,991 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $69.86, for a total value of $139,091.26. Following the transaction, the chief executive officer now directly owns 220,544 shares of the company’s stock, valued at approximately $15,407,203.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 9,776 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total transaction of $682,951.36. Following the completion of the transaction, the chief financial officer now directly owns 84,950 shares in the company, valued at $5,934,607. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,431 shares of company stock valued at $1,613,907. 0.37% of the stock is owned by insiders.

GoDaddy Company Profile

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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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