Hartford Investment Management Co. Sells 105 Shares of GoDaddy Inc. (NYSE:GDDY)

Hartford Investment Management Co. reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,990 shares of the technology company’s stock after selling 105 shares during the period. Hartford Investment Management Co.’s holdings in GoDaddy were worth $1,409,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Plato Investment Management Ltd boosted its position in shares of GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after buying an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares during the period. Forsta AP Fonden lifted its position in shares of GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after buying an additional 39,200 shares in the last quarter. Swedbank AB boosted its position in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of GoDaddy by 866.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after buying an additional 9,266 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler reiterated a “neutral” rating and issued a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Benchmark reissued a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird lifted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

GoDaddy Stock Performance

Shares of GDDY stock opened at $160.53 on Friday. 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 company has a market cap of $22.91 billion, a price-to-earnings ratio of 13.33 and a beta of 1.12. The stock has a 50 day simple moving average of $159.26 and a 200-day simple moving average of $145.78.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results 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). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. On average, equities analysts forecast that GoDaddy Inc. will post 5.07 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the sale, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the transaction, the chief operating officer now directly owns 188,632 shares in the company, valued at approximately $27,630,815.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the transaction, the chief executive officer now owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,744 shares of company stock valued at $5,114,931. Corporate insiders own 0.61% of the company’s stock.

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.