Charles Schwab Investment Management Inc. Has $139.77 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Charles Schwab Investment Management Inc. reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 29.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 891,531 shares of the technology company’s stock after selling 371,535 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of GoDaddy worth $139,774,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Federated Hermes Inc. grew its position in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in GoDaddy in the second quarter valued at approximately $30,785,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock worth $4,803,380 over the last three months. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Up 1.7 %

Shares of NYSE GDDY opened at $196.35 on Monday. The stock has a market capitalization of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11. The stock’s fifty day moving average is $166.62 and its 200 day moving average is $153.46. GoDaddy Inc. has a 52 week low of $94.50 and a 52 week high of $196.71. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.89 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

About GoDaddy

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.