Toronto Dominion Bank Sells 5,372 Shares of GoDaddy Inc. (NYSE:GDDY)

Toronto Dominion Bank reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 27.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,875 shares of the technology company’s stock after selling 5,372 shares during the period. Toronto Dominion Bank’s holdings in GoDaddy were worth $1,647,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Sheaff Brock Investment Advisors LLC bought a new position in GoDaddy in the 1st quarter worth about $368,000. Delap Wealth Advisory LLC bought a new position in shares of GoDaddy in the first quarter valued at approximately $462,000. Shell Asset Management Co. grew its stake in GoDaddy by 30.0% during the first quarter. Shell Asset Management Co. now owns 19,830 shares of the technology company’s stock valued at $2,353,000 after acquiring an additional 4,579 shares in the last quarter. Boulder Hill Capital Management LP grew its stake in GoDaddy by 43.0% during the first quarter. Boulder Hill Capital Management LP now owns 33,600 shares of the technology company’s stock valued at $3,988,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Natixis Investment Managers International increased its holdings in GoDaddy by 17.8% during the 1st quarter. Natixis Investment Managers International now owns 1,289 shares of the technology company’s stock worth $153,000 after acquiring an additional 195 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GDDY stock opened at $143.65 on Friday. The firm has a market cap of $20.50 billion, a P/E ratio of 11.93 and a beta of 1.14. The firm’s fifty day moving average is $141.15 and its 200 day moving average is $125.76. GoDaddy Inc. has a 52 week low of $69.18 and a 52 week high of $148.71. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Research analysts predict that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at approximately $24,597,483.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Amanpal Singh Bhutani sold 6,825 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25. Following the transaction, the chief executive officer now directly owns 377,498 shares of the company’s stock, valued at $52,128,698.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,071 shares of company stock worth $6,875,606. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their target price on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Morgan Stanley raised their price target on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Citigroup boosted their price objective on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Robert W. Baird raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.25.

GoDaddy Company 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.