Moran Wealth Management LLC Trims Stake in GoDaddy Inc. $GDDY

Moran Wealth Management LLC reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 68.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,920 shares of the technology company’s stock after selling 49,495 shares during the quarter. Moran Wealth Management LLC’s holdings in GoDaddy were worth $3,136,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in GoDaddy by 3.5% in the second quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock worth $3,378,310,000 after buying an additional 627,923 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of GoDaddy by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock valued at $677,726,000 after buying an additional 81,623 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of GoDaddy by 5.7% during the 2nd quarter. WCM Investment Management LLC now owns 3,670,677 shares of the technology company’s stock valued at $660,979,000 after acquiring an additional 199,459 shares during the period. JPMorgan Chase & Co. increased its holdings in GoDaddy by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,843,056 shares of the technology company’s stock worth $511,921,000 after acquiring an additional 403,151 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in GoDaddy by 2.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,403,902 shares of the technology company’s stock worth $432,847,000 after acquiring an additional 54,438 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. The trade was a 12.32% 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. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 14,115 shares of company stock valued at $1,809,657. 0.70% of the stock is owned by company insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $113.58 on Friday. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a fifty day moving average price of $126.57 and a 200 day moving average price of $141.89. GoDaddy Inc. has a fifty-two week low of $113.22 and a fifty-two week high of $216.00. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.05 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of several analyst reports. B. Riley lowered their price target on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Benchmark restated a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. Jefferies Financial Group cut their price target on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Monday. Finally, Cantor Fitzgerald decreased their price target on GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.21.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.