Royal London Asset Management Ltd. Reduces Position in GoDaddy Inc. (NYSE:GDDY)

Royal London Asset Management Ltd. reduced its position in GoDaddy Inc. (NYSE:GDDY) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,797 shares of the technology company’s stock after selling 2,041 shares during the quarter. Royal London Asset Management Ltd.’s holdings in GoDaddy were worth $7,795,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of GoDaddy during the fourth quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in GoDaddy during the 2nd quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares in the last quarter. ORG Partners LLC purchased a new stake in GoDaddy in the 2nd quarter valued at about $32,000. Finally, Frazier Financial Advisors LLC bought a new position in GoDaddy in the 4th quarter worth about $33,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.2 %

NYSE:GDDY opened at $152.27 on Friday. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 12.65 and a beta of 1.13. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a 50 day moving average of $153.13 and a 200 day moving average of $137.21.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,744 shares of company stock worth $4,664,216. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley boosted their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Raymond James increased their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Citigroup raised their price target on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Royal Bank of Canada upped their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.08.

GoDaddy 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.