GoDaddy Inc. $GDDY Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 47.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,047 shares of the technology company’s stock after selling 11,088 shares during the quarter. Shell Asset Management Co.’s holdings in GoDaddy were worth $1,648,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bayforest Capital Ltd acquired a new stake in GoDaddy during the 2nd quarter worth $26,000. NewSquare Capital LLC grew its holdings in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the last quarter. Root Financial Partners LLC purchased a new position in GoDaddy during the 3rd quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in GoDaddy during the 2nd quarter worth approximately $66,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Up 0.9%

GDDY stock opened at $89.04 on Monday. The stock has a market capitalization of $12.03 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The company has a fifty day moving average of $112.40 and a 200-day moving average of $128.92. 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 Inc. has a one year low of $88.11 and a one year high of $195.70.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer directly owned 17,055 shares in the company, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer owned 399,133 shares of the company’s stock, valued at $51,065,076.02. The trade was a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,615 shares of company stock worth $1,743,102 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GDDY shares. Morgan Stanley reduced their price objective on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Cantor Fitzgerald reduced their price target on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Citigroup lowered their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. UBS Group reduced their target price on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average price target of $166.21.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.