AQR Capital Management LLC Sells 31,033 Shares of GoDaddy Inc. (NYSE:GDDY)

AQR Capital Management LLC lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 988,942 shares of the technology company’s stock after selling 31,033 shares during the quarter. AQR Capital Management LLC owned about 0.70% of GoDaddy worth $195,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the fourth quarter valued at $43,000. Rakuten Securities Inc. lifted its stake in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial bought a new stake in shares of GoDaddy in the fourth quarter worth about $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy in the fourth quarter worth about $52,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Up 1.0 %

GoDaddy stock opened at $185.15 on Tuesday. GoDaddy Inc. has a 52 week low of $120.59 and a 52 week high of $216.00. The firm has a market cap of $26.17 billion, a price-to-earnings ratio of 28.71 and a beta of 1.19. The business’s 50-day moving average price is $175.53 and its 200 day moving average price is $186.88. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group upped their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. B. Riley raised their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler raised their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research note on Monday. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.60.

Insider Activity at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is owned by corporate insiders.

GoDaddy Profile

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.