Hsbc Holdings PLC Sells 162,023 Shares of GoDaddy Inc. $GDDY

Hsbc Holdings PLC cut its position in GoDaddy Inc. (NYSE:GDDY) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 633,127 shares of the technology company’s stock after selling 162,023 shares during the period. Hsbc Holdings PLC owned approximately 0.47% of GoDaddy worth $78,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its position in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after acquiring an additional 86 shares in the last quarter. Clearstead Advisors LLC lifted its position in GoDaddy by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock valued at $1,686,000 after acquiring an additional 104 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 119 shares during the last quarter. Lido Advisors LLC boosted its stake in GoDaddy by 6.2% during the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after purchasing an additional 121 shares during the last quarter. Finally, Martin Capital Advisors LLP increased its holdings in shares of GoDaddy by 1.5% in the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total value of $290,220.00. Following the transaction, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. This represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,751 shares of company stock worth $1,480,228 over the last 90 days. 0.93% of the stock is owned by company insiders.

GoDaddy Stock Performance

Shares of GDDY opened at $75.03 on Tuesday. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. GoDaddy Inc. has a one year low of $71.59 and a one year high of $181.49. The firm has a market capitalization of $9.93 billion, a P/E ratio of 11.87, a PEG ratio of 0.70 and a beta of 0.90. The business has a fifty day moving average of $84.85 and a 200 day moving average of $95.65.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 earnings per share. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 7.14 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. Wells Fargo & Company upped their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy 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.