Commonwealth Equity Services LLC Has $289,000 Holdings in GoDaddy Inc. (NYSE:GDDY)

Commonwealth Equity Services LLC cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,068 shares of the technology company’s stock after selling 121 shares during the period. Commonwealth Equity Services LLC’s holdings in GoDaddy were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GDDY. Americana Partners LLC bought a new stake in shares of GoDaddy in the 2nd quarter valued at about $245,000. Hantz Financial Services Inc. bought a new stake in shares of GoDaddy in the 2nd quarter valued at about $6,230,000. Forum Financial Management LP bought a new stake in shares of GoDaddy in the 2nd quarter valued at about $253,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy in the 2nd quarter valued at about $36,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of GoDaddy by 25.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,030 shares of the technology company’s stock valued at $2,519,000 after acquiring an additional 3,683 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 0.5 %

NYSE GDDY opened at $157.78 on Wednesday. The company has a market cap of $22.51 billion, a PE ratio of 13.10 and a beta of 1.13. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The stock has a 50 day moving average of $154.79 and a 200-day moving average of $139.74.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, equities research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup increased their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday. Piper Sandler reissued a “neutral” rating and set a $172.00 target price (up from $160.00) on shares of GoDaddy in a research note on Monday. B. Riley increased their target price on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Benchmark increased their target price on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is owned by insiders.

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.