DekaBank Deutsche Girozentrale Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

DekaBank Deutsche Girozentrale trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,722 shares of the technology company’s stock after selling 7,300 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in GoDaddy were worth $6,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy in the second quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the 3rd quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in GoDaddy during the 2nd quarter valued at $32,000. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the second quarter worth $36,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of GoDaddy in the first quarter worth $45,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 3.1 %

GDDY stock opened at $166.68 on Friday. The company has a market capitalization of $23.78 billion, a PE ratio of 13.84 and a beta of 1.12. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a one year low of $72.14 and a one year high of $171.93. The company’s 50 day moving average price is $159.08 and its two-hundred day moving average price is $146.68.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several analyst reports. Robert W. Baird raised their target price on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Benchmark raised their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $170.23.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the transaction, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,744 shares of company stock worth $4,089,571 in the last ninety days. 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.