Rathbones Group PLC Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Rathbones Group PLC cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,039 shares of the technology company’s stock after selling 363 shares during the quarter. Rathbones Group PLC’s holdings in GoDaddy were worth $4,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $109,000. Jump Financial LLC bought a new stake in shares of GoDaddy during the 4th quarter valued at about $292,000. Ieq Capital LLC purchased a new position in shares of GoDaddy during the fourth quarter valued at about $237,000. Janney Montgomery Scott LLC increased its position in shares of GoDaddy by 55.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,398 shares of the technology company’s stock valued at $2,272,000 after buying an additional 7,646 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in GoDaddy by 158.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,156 shares of the technology company’s stock worth $229,000 after buying an additional 1,323 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at $51,078,986.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the transaction, the chief executive officer now directly owns 365,398 shares in the company, valued at $51,078,986.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,744 shares of company stock valued at $4,664,216. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

Shares of GDDY opened at $152.28 on Monday. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The company has a market capitalization of $21.47 billion, a P/E ratio of 12.65 and a beta of 1.13. The firm has a 50 day moving average of $153.13 and a 200 day moving average of $137.55. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. As a group, equities research analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of several research reports. Barclays increased their target price on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Cantor Fitzgerald assumed coverage on shares of GoDaddy in a research note on Thursday, September 5th. They issued a “neutral” rating and a $170.00 price target for the company. Finally, StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.08.

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.