Mediolanum International Funds Ltd Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Mediolanum International Funds Ltd trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,094 shares of the technology company’s stock after selling 3,749 shares during the period. Mediolanum International Funds Ltd owned approximately 0.05% of GoDaddy worth $11,228,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new position in GoDaddy during the second quarter valued at $28,000. ORG Wealth Partners LLC purchased a new position in GoDaddy during the third quarter valued at $30,000. ORG Partners LLC purchased a new position in GoDaddy during the second quarter valued at $32,000. International Assets Investment Management LLC purchased a new position in GoDaddy during the second quarter valued at $36,000. Finally, New Covenant Trust Company N.A. purchased a new position in GoDaddy during the first quarter valued at $45,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Down 0.6 %

Shares of NYSE GDDY opened at $160.53 on Friday. The business’s 50 day moving average is $159.26 and its two-hundred day moving average is $145.78. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The stock has a market capitalization of $22.91 billion, a P/E ratio of 13.33 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GDDY shares. Robert W. Baird raised their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James raised their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and set a $172.00 price target (up from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Royal Bank of Canada raised their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Benchmark reissued a “buy” rating and set a $186.00 price target on shares of GoDaddy in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 188,632 shares in the company, valued at $27,630,815.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 188,632 shares in the company, valued at $27,630,815.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 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 $439,440.00. Following the completion of the sale, the chief executive officer now owns 362,398 shares of the company’s stock, valued at $53,084,059.04. The trade was 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 90 days. Company insiders own 0.61% of the company’s stock.

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.