MetLife Investment Management LLC Sells 1,056 Shares of GoDaddy Inc. (NYSE:GDDY)

MetLife Investment Management LLC lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.4% during the third quarter, HoldingsChannel reports. The fund owned 43,097 shares of the technology company’s stock after selling 1,056 shares during the quarter. MetLife Investment Management LLC’s holdings in GoDaddy were worth $6,757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy during the third quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy in the third quarter valued at $30,000. Transcendent Capital Group LLC bought a new position in GoDaddy during the 2nd quarter worth $28,000. ORG Partners LLC acquired a new position in GoDaddy during the 2nd quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy in the second quarter valued at about $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,345 shares of company stock valued at $3,897,255. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GDDY shares. Royal Bank of Canada upped their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird raised their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Performance

NYSE GDDY opened at $197.68 on Friday. The firm has a market cap of $27.75 billion, a P/E ratio of 15.28 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company’s 50 day moving average is $170.85 and its 200-day moving average is $155.58. GoDaddy Inc. has a 12-month low of $98.13 and a 12-month high of $202.56.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.