GoDaddy Inc. (NYSE:GDDY) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC cut its stake in GoDaddy Inc. (NYSE:GDDY) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,696 shares of the technology company’s stock after selling 176 shares during the period. Portside Wealth Group LLC’s holdings in GoDaddy were worth $306,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in GoDaddy by 11.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock worth $751,778,000 after buying an additional 395,160 shares during the period. Geode Capital Management LLC increased its holdings in shares of GoDaddy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after purchasing an additional 90,810 shares during the period. Invesco Ltd. increased its holdings in shares of GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after purchasing an additional 304,033 shares during the period. Norges Bank acquired a new position in shares of GoDaddy during the fourth quarter valued at $356,038,000. Finally, Northern Trust Corp increased its holdings in shares of GoDaddy by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company’s stock valued at $282,275,000 after purchasing an additional 115,341 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. UBS Group lifted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Wall Street Zen lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. lifted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given 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 $214.86.

GoDaddy Trading Down 0.7%

NYSE:GDDY opened at $178.39 on Wednesday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00. The stock’s 50-day moving average is $179.39 and its two-hundred day moving average is $189.16. The stock has a market cap of $25.42 billion, a PE ratio of 27.66 and a beta of 1.07.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $2.76 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 684 shares of GoDaddy stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $122,990.04. Following the completion of the sale, the chief accounting officer now directly owns 23,371 shares in the company, valued at $4,202,339.51. The trade was a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.86, for a total value of $572,580.00. Following the sale, the chief executive officer now owns 440,947 shares of the company’s stock, valued at approximately $84,159,144.42. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,459 shares of company stock valued at $12,214,374 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.