Whittier Trust Co. of Nevada Inc. Sells 1,876 Shares of GoDaddy Inc. (NYSE:GDDY)

Whittier Trust Co. of Nevada Inc. lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 80.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 442 shares of the technology company’s stock after selling 1,876 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in GoDaddy were worth $69,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Kodai Capital Management LP acquired a new position in GoDaddy during the first quarter worth $75,855,000. Federated Hermes Inc. lifted its stake in shares of 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 buying an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of GoDaddy by 2,279.5% during 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 buying an additional 384,386 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Piper Sandler reiterated a “neutral” rating and issued a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Finally, Benchmark reissued a “buy” rating and set a $186.00 price target on shares of GoDaddy in a research report on Tuesday, October 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Trading Down 0.3 %

Shares of GDDY stock opened at $161.45 on Friday. GoDaddy Inc. has a 12-month low of $71.15 and a 12-month high of $167.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a 50 day moving average of $159.32 and a 200-day moving average of $145.55. The firm has a market cap of $23.04 billion, a P/E ratio of 13.41 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts anticipate that GoDaddy Inc. will post 5.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the sale, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the sale, the chief operating officer now directly owns 188,632 shares in the company, valued at approximately $27,630,815.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock worth $5,114,931 over the last quarter. 0.61% of the stock is currently owned by company insiders.

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.