Greenleaf Trust Trims Position in GoDaddy Inc. (NYSE:GDDY)

Greenleaf Trust lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 21.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,311 shares of the technology company’s stock after selling 904 shares during the quarter. Greenleaf Trust’s holdings in GoDaddy were worth $351,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GDDY. Federated Hermes Inc. lifted its stake in shares of GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after buying an additional 695,897 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after buying an additional 674,719 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after buying an additional 561,614 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of GoDaddy by 3,382.2% during the 3rd quarter. Principal Financial Group Inc. now owns 546,359 shares of the technology company’s stock worth $40,693,000 after buying an additional 530,669 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.6 %

Shares of GoDaddy stock opened at $123.40 on Wednesday. The business has a 50-day moving average of $117.96 and a 200-day moving average of $104.15. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $17.58 billion, a PE ratio of 12.88 and a beta of 1.12. GoDaddy Inc. has a 1-year low of $67.43 and a 1-year high of $127.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. As a group, equities analysts forecast that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insider Activity

In other news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock worth $13,534,946 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on GDDY shares. Robert W. Baird upped their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Evercore ISI downgraded GoDaddy from an “outperform” rating to an “in-line” rating and increased their price target for the company from $100.00 to $110.00 in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price target on GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $124.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.18.

GoDaddy Company 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.