Assenagon Asset Management S.A. Sells 327,849 Shares of GoDaddy Inc. (NYSE:GDDY)

Assenagon Asset Management S.A. trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 79.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 83,155 shares of the technology company’s stock after selling 327,849 shares during the period. Assenagon Asset Management S.A. owned 0.06% of GoDaddy worth $13,037,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in GoDaddy during the 3rd quarter worth approximately $30,000. Transcendent Capital Group LLC bought a new position in GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $32,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy in the 2nd quarter valued at $36,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of GoDaddy during the third quarter worth $49,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the sale, the chief executive officer now owns 362,398 shares in the company, valued at approximately $53,084,059.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the sale, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at approximately $27,630,815.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,744 shares of company stock worth $5,114,931 over the last quarter. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GDDY shares. Benchmark restated a “buy” rating and issued a $186.00 target price on shares of GoDaddy in a report on Tuesday, October 15th. Royal Bank of Canada lifted their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. B. Riley increased their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Barclays lifted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Raymond James increased their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Price Performance

GDDY stock opened at $160.53 on Monday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The business has a 50-day simple moving average of $159.26 and a two-hundred day simple moving average of $145.92. The company has a market capitalization of $22.63 billion, a P/E ratio of 12.83 and a beta of 1.12. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Research analysts expect that GoDaddy Inc. will post 5.07 EPS for the current fiscal year.

About GoDaddy

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.