GoDaddy Inc. (NYSE:GDDY) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,189 shares of the technology company’s stock after selling 483 shares during the quarter. Cerity Partners LLC’s holdings in GoDaddy were worth $3,142,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the fourth quarter worth approximately $43,000. Rakuten Securities Inc. raised its holdings in shares of GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial purchased a new stake in shares of GoDaddy in the 4th quarter valued at approximately $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy in the 4th quarter valued at approximately $52,000. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares of the company’s stock, valued at $20,750,193.75. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the completion of the sale, the director now directly owns 21,621 shares in the company, valued at approximately $3,888,536.85. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,546,970 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GDDY has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. B. Riley lifted their target price on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Morgan Stanley upped their target price on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Eight investment 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. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.20.

GoDaddy Stock Up 0.0 %

GDDY stock opened at $172.08 on Tuesday. The firm has a market cap of $24.32 billion, a PE ratio of 26.68 and a beta of 1.19. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The company has a fifty day simple moving average of $180.10 and a 200 day simple moving average of $185.65. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results 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). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal 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.