Ameriprise Financial Inc. Sells 25,128 Shares of GoDaddy Inc. (NYSE:GDDY)

Ameriprise Financial Inc. decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,413,247 shares of the technology company’s stock after selling 25,128 shares during the quarter. Ameriprise Financial Inc. owned about 3.09% of GoDaddy worth $616,575,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of GoDaddy in the fourth quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares during the period. ORG Partners LLC bought a new position in GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of GoDaddy 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 completion of the transaction, the chief operating officer now owns 192,632 shares in the company, valued at $26,928,027.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $734,620.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on GDDY. Royal Bank of Canada raised their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Benchmark lifted their price target on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Citigroup boosted their price target on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Robert W. Baird increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Stock Down 2.0 %

NYSE:GDDY opened at $155.63 on Friday. The firm has a market capitalization of $22.21 billion, a price-to-earnings ratio of 12.93 and a beta of 1.13. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The stock’s 50 day moving average price is $155.31 and its two-hundred day moving average price is $139.98.

GoDaddy (NYSE:GDDY) last issued its earnings results 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). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Equities research analysts expect that GoDaddy Inc. will post 5.06 earnings per share 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.