Fiera Capital Corp Reduces Stake in GoDaddy Inc. $GDDY

Fiera Capital Corp lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 18.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 211,155 shares of the technology company’s stock after selling 46,480 shares during the period. Fiera Capital Corp’s holdings in GoDaddy were worth $28,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Hemington Wealth Management raised 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. NewSquare Capital LLC grew its position in GoDaddy by 170.9% during the 2nd 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 period. Root Financial Partners LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Bayforest Capital Ltd raised its stake in shares of GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock valued at $49,000 after buying an additional 208 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of GoDaddy in the third quarter worth about $61,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of GDDY opened at $90.56 on Friday. The stock has a market cap of $12.24 billion, a PE ratio of 15.64, a P/E/G ratio of 0.80 and a beta of 0.94. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. GoDaddy Inc. has a 1-year low of $87.13 and a 1-year high of $193.55. The firm has a 50-day simple moving average of $108.75 and a two-hundred day simple moving average of $126.95.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Cantor Fitzgerald lowered their price target on GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Jefferies Financial Group dropped their price target on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Finally, Evercore cut their price target on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a report 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.21.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,615 shares of company stock worth $1,743,102. 0.70% of the stock is currently owned by company insiders.

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.