GoDaddy Inc. (NYSE:GDDY) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 13.8% during the second quarter, HoldingsChannel.com reports. The firm owned 75,408 shares of the technology company’s stock after selling 12,058 shares during the period. Mackenzie Financial Corp’s holdings in GoDaddy were worth $10,535,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter worth $28,000. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter worth about $32,000. V Square Quantitative Management LLC purchased a new position in GoDaddy during the fourth quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the second quarter worth $36,000. Finally, GAMMA Investing LLC grew its stake in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, 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. Over the last quarter, insiders have sold 23,244 shares of company stock valued at $3,628,171. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $156.77 on Tuesday. The firm has a market cap of $22.37 billion, a P/E ratio of 13.02 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week 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 firm has a 50 day simple moving average of $155.52 and a 200 day simple moving average of $140.59.

GoDaddy (NYSE:GDDY) last announced its quarterly 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 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 business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Sell-side analysts predict that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Raymond James raised their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird boosted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.54.

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.