GoDaddy Inc. Shares (NYSE:GDDY) sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 25.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 996,437 shares of the technology company’s stock after selling 338,245 shares during the quarter. Bank of New York Mellon Corp’s holdings in GoDaddy were worth $139,212,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter valued at about $181,687,000. Goldman Sachs Group Inc. raised its stake in shares of GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock valued at $96,166,000 after acquiring an additional 110,076 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in shares of GoDaddy by 1.3% during the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after acquired another 10,312 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s shares.

Insiders place their bets

In other news, CEO Amanpal Singh Bhutani sold 7,600 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the completion of the transaction, the chief executive officer now directly owns 369,898 shares in the company, valued at approximately $51,386,230.16. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other news, CEO Amanpal Singh Bhutani sold 7,600 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,055,792.00. Following the completion of the sale, the chief executive officer now owns 369,898 shares of the company’s stock, valued at approximately $51,386,230.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CFO Mark McCaffrey sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $140.13, for a total transaction of $420,390.00. Following the completion of the sale, the chief financial officer now owns 109,473 shares in the company, valued at approximately $15,340,451.49. The disclosure for this sale can be found here. Insiders have sold 49,413 shares of company stock worth $6,931,096 over the last three months. 0.61% of shares are held by insiders.

GoDaddy Stock Performance

GoDaddy stock opened at $164.17 on Tuesday. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55, and a quick ratio of 0.55. The company’s fifty day moving average price is $148.28 and its 200 day moving average price is $133.05. The company has a market cap of $23.43 billion, a price-to-earnings ratio of 13.64 and a beta of 1.14. GoDaddy Inc. has a 12-month low of $70.03 and a 12-month high of $165.89.

GoDaddy (NYSE:GDDY – Get Your Free Report ) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The company’s revenue was up 7.3% compared to the same quarter last year. In the same period last year, the firm posted earnings of $0.63 per share. On average, research analysts expect that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Analyst upgrades and downgrades

GDDY has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley upped their target price on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Finally, Citigroup upped their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.58, according to MarketBeat.com.

Check out our latest research report on GoDaddy

About GoDaddy

(Free Report)

GoDaddy Inc is engaged 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 offers application products, including Websites + Marketing, a mobile-optimized online tool that enables customers to create e-commerce-enabled websites and online stores; and Managed WordPress, a simplified and optimized website builder that allows customers to easily build and manage a WordPress site faster; Managed WooCommerce stores to sell anything, anywhere online; and marketing tools and services such as the GoDaddy Studio mobile app, 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 .

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