SG Americas Securities LLC Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

SG Americas Securities LLC lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 80.2% during the 4th quarter, Holdings Channel reports. The firm owned 7,363 shares of the technology company’s stock after selling 29,824 shares during the quarter. SG Americas Securities LLC’s holdings in GoDaddy were worth $1,453,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of GoDaddy by 13.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after acquiring an additional 88 shares during the last quarter. Lindbrook Capital LLC increased its position in GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after purchasing an additional 99 shares in the last quarter. Finally, Equitable Trust Co. raised its stake in GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after purchasing an additional 107 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

NYSE GDDY opened at $204.73 on Tuesday. The business’s 50-day simple moving average is $200.75 and its 200-day simple moving average is $173.54. The firm has a market capitalization of $28.74 billion, a P/E ratio of 15.82 and a beta of 1.15. GoDaddy Inc. has a 1-year low of $106.42 and a 1-year high of $211.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

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

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. Benchmark raised their price target on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. B. Riley raised their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James boosted their price target on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Morgan Stanley raised their price objective on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Robert W. Baird upped their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

Insider Buying and Selling

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,483 shares of company stock valued at $4,759,553. Company insiders own 0.61% of the company’s stock.

About GoDaddy

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.