Fulton Bank N.A. Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Fulton Bank N.A. decreased its position in GoDaddy Inc. (NYSE:GDDY) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,990 shares of the technology company’s stock after selling 165 shares during the period. Fulton Bank N.A.’s holdings in GoDaddy were worth $236,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fiera Capital Corp grew its stake in shares of GoDaddy by 1.3% in the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock valued at $87,914,000 after buying an additional 10,312 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $4,204,000. International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $1,972,000. SG Americas Securities LLC boosted its position in shares of GoDaddy by 644.6% during the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after purchasing an additional 129,547 shares during the period. Finally, Horrell Capital Management Inc. boosted its position in shares of GoDaddy by 41.7% during the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at approximately $3,129,947.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock in a transaction on Friday, June 7th. The shares were sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the sale, the chief executive officer now directly owns 369,898 shares in the company, valued at approximately $51,386,230.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,195 shares of company stock worth $6,237,029. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of GDDY opened at $137.66 on Friday. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $142.95. The firm’s fifty day simple moving average is $132.90 and its 200-day simple moving average is $118.91. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 11.43 and a beta of 1.10. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Equities analysts forecast that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GDDY shares. Morgan Stanley increased their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. UBS Group increased their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Barclays increased their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.92.

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.