Comerica Bank trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,179 shares of the technology company’s stock after selling 411 shares during the quarter. Comerica Bank’s holdings in GoDaddy were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GDDY. NEXT Financial Group Inc bought a new position in shares of GoDaddy during the third quarter valued at $26,000. Ninety One SA PTY Ltd bought a new position in shares of GoDaddy during the third quarter valued at $62,000. Simon Quick Advisors LLC lifted its holdings in shares of GoDaddy by 1,939.5% during the fourth quarter. Simon Quick Advisors LLC now owns 775 shares of the technology company’s stock valued at $64,000 after purchasing an additional 737 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of GoDaddy by 465.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 826 shares of the technology company’s stock valued at $69,000 after purchasing an additional 680 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of GoDaddy by 43.6% during the third quarter. IFP Advisors Inc now owns 1,414 shares of the technology company’s stock valued at $106,000 after purchasing an additional 429 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of GDDY opened at $82.19 on Tuesday. The business has a 50-day simple moving average of $83.37 and a two-hundred day simple moving average of $79.79. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of -26.51, a PEG ratio of 1.97 and a beta of 0.96. GoDaddy Inc. has a 52 week low of $40.25 and a 52 week high of $93.75.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 11th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. GoDaddy had a positive return on equity of 94.14% and a negative net margin of 15.67%. The business had revenue of $873.90 million during the quarter, compared to analysts’ expectations of $865.17 million. Equities research analysts forecast that GoDaddy Inc. will post 1.27 EPS for the current year.

In related news, CAO Nick Daddario sold 1,500 shares of the stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $85.83, for a total transaction of $128,745.00. Following the completion of the sale, the chief accounting officer now owns 6,462 shares in the company, valued at $554,633.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 2,999 shares of the stock in a transaction dated Tuesday, January 5th. The stock was sold at an average price of $81.67, for a total value of $244,928.33. Following the sale, the chief executive officer now owns 86,018 shares of the company’s stock, valued at approximately $7,025,090.06. The disclosure for this sale can be found here. Insiders have sold 138,018 shares of company stock valued at $11,437,087 in the last quarter. 0.52% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on the company. Piper Sandler upped their price target on GoDaddy from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 12th. Oppenheimer upped their price target on GoDaddy from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Zacks Investment Research downgraded GoDaddy from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Monday, February 15th. Barclays increased their target price on GoDaddy from $90.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, February 12th. Finally, Rosenblatt Securities increased their target price on GoDaddy from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 12th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $99.07.

About GoDaddy

GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

Further Reading: Cost of Debt

Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY).

Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

Receive News & Ratings for GoDaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoDaddy and related companies with MarketBeat.com's FREE daily email newsletter.