GoDaddy Inc. (NYSE:GDDY) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 60.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,432 shares of the technology company’s stock after selling 47,392 shares during the period. Amalgamated Bank’s holdings in GoDaddy were worth $4,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. E Fund Management Co. Ltd. purchased a new stake in shares of GoDaddy in the second quarter valued at about $228,000. Citizens Financial Group Inc. RI purchased a new stake in shares of GoDaddy in the second quarter valued at about $208,000. Renaissance Technologies LLC raised its holdings in shares of GoDaddy by 6.4% in the second quarter. Renaissance Technologies LLC now owns 411,598 shares of the technology company’s stock valued at $57,504,000 after buying an additional 24,698 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of GoDaddy by 20.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 37,661 shares of the technology company’s stock valued at $5,262,000 after buying an additional 6,313 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the sale, the chief operating officer now owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold 31,744 shares of company stock worth $4,816,386 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GDDY. Royal Bank of Canada increased their price target on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Cantor Fitzgerald began coverage on shares of GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 price target for the company. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. B. Riley increased their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Robert W. Baird increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $164.08.

GoDaddy Stock Up 0.3 %

GDDY stock opened at $160.55 on Friday. The company’s 50 day simple moving average is $154.36 and its 200-day simple moving average is $138.90. The firm has a market capitalization of $22.91 billion, a PE ratio of 13.33 and a beta of 1.13. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

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

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.