Equitable Trust Co. Sells 1,842 Shares of GoDaddy Inc. (NYSE:GDDY)

Equitable Trust Co. lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,593 shares of the technology company’s stock after selling 1,842 shares during the period. Equitable Trust Co.’s holdings in GoDaddy were worth $1,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. CWM LLC grew its holdings in GoDaddy by 2.7% during the 3rd quarter. CWM LLC now owns 6,034 shares of the technology company’s stock worth $946,000 after acquiring an additional 159 shares during the period. Ritholtz Wealth Management grew its holdings in GoDaddy by 19.4% during the 3rd quarter. Ritholtz Wealth Management now owns 12,380 shares of the technology company’s stock worth $1,941,000 after acquiring an additional 2,012 shares during the period. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the 3rd quarter worth $30,000. Wedge Capital Management L L P NC grew its holdings in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after acquiring an additional 384,386 shares during the period. Finally, Creative Planning grew its holdings in GoDaddy by 41.6% during the 3rd quarter. Creative Planning now owns 14,187 shares of the technology company’s stock worth $2,224,000 after acquiring an additional 4,168 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,483 shares of company stock valued at $4,893,633 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on GDDY. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $198.53.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $211.47 on Tuesday. The company has a fifty day moving average price of $204.17 and a 200 day moving average price of $178.19. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 1-year low of $107.92 and a 1-year high of $216.00. The firm has a market cap of $29.69 billion, a PE ratio of 16.34 and a beta of 1.15.

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.