Mercer Global Advisors Inc. ADV Sells 1,987 Shares of GoDaddy Inc. (NYSE:GDDY)

Mercer Global Advisors Inc. ADV lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,113 shares of the technology company’s stock after selling 1,987 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in GoDaddy were worth $1,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in GoDaddy in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the second quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the last quarter. ORG Partners LLC bought a new stake in shares of GoDaddy during the second quarter worth about $32,000. Finally, International Assets Investment Management LLC bought a new stake in shares of GoDaddy during the second quarter worth about $36,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY opened at $157.78 on Wednesday. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The business’s 50 day moving average price is $154.79 and its two-hundred day moving average price is $139.74. The firm has a market cap of $22.51 billion, a PE ratio of 13.10 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last issued its quarterly 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). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.63 earnings per share. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the transaction, the chief executive officer now directly owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the transaction, the chief executive officer now directly owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the transaction, the chief operating officer now directly owns 192,632 shares in the company, valued at $26,928,027.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. B. Riley boosted their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday. Raymond James boosted their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

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.