Commerce Bank Has $8.08 Million Position in GoDaddy Inc. (NYSE:GDDY)

Commerce Bank lessened its position in GoDaddy Inc. (NYSE:GDDY) by 18.6% during the 4th quarter, Holdings Channel reports. The firm owned 40,911 shares of the technology company’s stock after selling 9,320 shares during the quarter. Commerce Bank’s holdings in GoDaddy were worth $8,075,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in GoDaddy in the fourth quarter valued at about $25,554,000. CWA Asset Management Group LLC boosted its holdings in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after acquiring an additional 3,631 shares in the last quarter. Fiduciary Alliance LLC bought a new stake in GoDaddy during the 4th quarter worth approximately $1,045,000. Mount Yale Investment Advisors LLC grew its position in GoDaddy by 205.3% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 3,783 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock valued at $243,000 after purchasing an additional 499 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY stock opened at $171.55 on Friday. The stock has a 50-day moving average of $177.13 and a 200-day moving average of $185.93. GoDaddy Inc. has a one year low of $120.23 and a one year high of $216.00. The stock has a market cap of $24.25 billion, a PE ratio of 26.60 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

GDDY has been the subject of a number of research reports. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Jefferies Financial Group reduced their target price on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 7th. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, UBS Group upped their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.73.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the sale, the chief operating officer now directly owns 256,949 shares of the company’s stock, valued at $44,130,990.75. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,518,150. Company 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.