Rehmann Capital Advisory Group Sells 157 Shares of GoDaddy Inc. (NYSE:GDDY)

Rehmann Capital Advisory Group cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 8.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,722 shares of the technology company’s stock after selling 157 shares during the quarter. Rehmann Capital Advisory Group’s holdings in GoDaddy were worth $270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after purchasing an additional 67 shares during the period. Prime Capital Investment Advisors LLC raised its position in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares during the last quarter. Whittier Trust Co. lifted its holdings in GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC grew its position in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after buying an additional 99 shares during the last quarter. Finally, Equitable Trust Co. increased its stake in shares of GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 1,554 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the transaction, the chief accounting officer now owns 21,505 shares in the company, valued at approximately $4,384,869.50. This represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,503 shares of company stock worth $4,102,853 over the last 90 days. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 1.0 %

GoDaddy stock opened at $206.73 on Friday. GoDaddy Inc. has a 12 month low of $99.90 and a 12 month high of $210.30. The company has a market capitalization of $29.02 billion, a price-to-earnings ratio of 15.98 and a beta of 1.15. The business’s fifty day simple moving average is $180.63 and its two-hundred day simple moving average is $160.28. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, equities analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on GDDY. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy 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.