GoDaddy Inc. $GDDY Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909,518 shares of the technology company’s stock after selling 88,140 shares during the period. Federated Hermes Inc.’s holdings in GoDaddy were worth $163,768,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GDDY. Bayforest Capital Ltd acquired a new stake in GoDaddy during the 2nd quarter valued at $26,000. NewSquare Capital LLC raised its holdings in shares of GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of GoDaddy in the first quarter valued at $30,000. Banque Transatlantique SA acquired a new stake in shares of GoDaddy during the first quarter valued at $36,000. Finally, Steph & Co. acquired a new stake in shares of GoDaddy during the second quarter valued at $55,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Citigroup lowered their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. B. Riley decreased their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, UBS Group lowered their target price on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $181.14.

GoDaddy Price Performance

GDDY opened at $128.43 on Friday. GoDaddy Inc. has a 1 year low of $121.94 and a 1 year high of $216.00. The company’s 50 day simple moving average is $130.85 and its 200 day simple moving average is $151.37. The stock has a market capitalization of $17.36 billion, a PE ratio of 22.18, a P/E/G ratio of 1.43 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 969 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $123,973.86. Following the transaction, the chief accounting officer directly owned 19,452 shares in the company, valued at $2,488,688.88. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the transaction, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,218 shares of company stock worth $2,615,781. Corporate insiders own 0.70% of the company’s stock.

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.