Assetmark Inc. Lowers Position in GoDaddy Inc. $GDDY

Assetmark Inc. lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 50.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,963 shares of the technology company’s stock after selling 16,939 shares during the period. Assetmark Inc.’s holdings in GoDaddy were worth $3,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of GoDaddy during the 2nd quarter valued at approximately $26,000. Park Square Financial Group LLC purchased a new position in GoDaddy in the 1st quarter valued at $27,000. Private Trust Co. NA lifted its holdings in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in GoDaddy in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.5%

Shares of GDDY opened at $135.17 on Tuesday. GoDaddy Inc. has a 52-week low of $125.00 and a 52-week high of $216.00. The company has a market capitalization of $18.71 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The stock has a fifty day simple moving average of $138.84 and a two-hundred day simple moving average of $160.33. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GDDY. JPMorgan Chase & Co. decreased their price objective on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group decreased their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday. Benchmark cut their target price on GoDaddy from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company cut their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $184.07.

Insider Activity

In related news, CAO Phontip Palitwanon sold 777 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $110,497.17. Following the completion of the sale, the chief accounting officer directly owned 20,421 shares of the company’s stock, valued at approximately $2,904,070.41. This trade represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total value of $900,000.00. Following the sale, the chief executive officer directly owned 406,065 shares of the company’s stock, valued at $60,909,750. The trade was a 1.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,703 shares of company stock worth $2,994,243. 0.70% 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.