Commerce Bank Has $7.17 Million Position in GoDaddy Inc. (NYSE:GDDY)

Commerce Bank cut its holdings in GoDaddy Inc. (NYSE:GDDYFree Report) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,521 shares of the technology company’s stock after selling 22,545 shares during the period. Commerce Bank’s holdings in GoDaddy were worth $7,168,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Ingalls & Snyder LLC increased its position in GoDaddy by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after buying an additional 120 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of GoDaddy by 7.6% in the third quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock worth $144,000 after acquiring an additional 137 shares during the last quarter. Quent Capital LLC increased its position in GoDaddy by 30.8% during the fourth quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock worth $68,000 after acquiring an additional 150 shares during the period. Fifth Third Bancorp raised its stake in GoDaddy by 27.4% during the 4th quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock valued at $77,000 after purchasing an additional 157 shares during the last quarter. Finally, Arizona State Retirement System grew its position in GoDaddy by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 39,966 shares of the technology company’s stock worth $2,977,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 1.1 %

GDDY opened at $140.14 on Friday. The firm has a market cap of $20.00 billion, a price-to-earnings ratio of 11.64 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50-day simple moving average is $126.30 and its 200-day simple moving average is $112.81. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $141.27.

GoDaddy (NYSE:GDDYGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. Equities research analysts anticipate that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Mark Mccaffrey sold 4,058 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the completion of the sale, the chief financial officer now owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold a total of 129,292 shares of company stock worth $14,567,860 in the last three months. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. UBS Group boosted their price target on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Robert W. Baird raised their price objective on GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Finally, Raymond James initiated coverage on GoDaddy in a research report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $145.00.

View Our Latest Analysis on GDDY

GoDaddy Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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