GoDaddy Inc. (NYSE:GDDY) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 60.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,432 shares of the technology company’s stock after selling 47,392 shares during the period. Amalgamated Bank’s holdings in GoDaddy were worth $4,252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the 2nd quarter valued at approximately $32,000. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy during the 4th quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the 2nd quarter valued at approximately $36,000. Finally, GAMMA Investing LLC raised its position in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Up 0.3 %

GoDaddy stock opened at $160.55 on Friday. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The stock’s fifty day simple moving average is $154.36 and its 200-day simple moving average is $138.90. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a market capitalization of $22.91 billion, a P/E ratio of 13.33 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at $51,078,986.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at $51,078,986.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,744 shares of company stock worth $4,816,386. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on GDDY shares. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Benchmark lifted their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Citigroup lifted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Barclays boosted their target price on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Piper Sandler boosted their target price on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $164.08.

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.