Oppenheimer Asset Management Inc. Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Oppenheimer Asset Management Inc. lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,054 shares of the technology company’s stock after selling 728 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GoDaddy were worth $4,897,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Thoroughbred Financial Services LLC acquired a new stake in shares of GoDaddy during the second quarter valued at $404,000. Parallel Advisors LLC boosted its stake in shares of GoDaddy by 12.9% during the second quarter. Parallel Advisors LLC now owns 2,236 shares of the technology company’s stock valued at $312,000 after acquiring an additional 256 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in shares of GoDaddy by 307.1% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 43,001 shares of the technology company’s stock valued at $6,008,000 after acquiring an additional 32,438 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of GoDaddy by 31.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 47,022 shares of the technology company’s stock valued at $6,652,000 after acquiring an additional 11,368 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $152.28 on Monday. The firm has a market capitalization of $21.47 billion, a P/E ratio of 12.65 and a beta of 1.13. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year 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. The business’s 50-day simple moving average is $153.13 and its 200-day simple moving average is $137.55.

GoDaddy (NYSE:GDDY) last announced its 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 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 business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities analysts predict that GoDaddy Inc. will post 5.06 EPS for the current year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated 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 directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated 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 directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares in the company, valued at $51,078,986.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,744 shares of company stock worth $4,664,216. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada increased their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Citigroup raised their price target on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Robert W. Baird raised their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.08.

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.