Charles Schwab Investment Management Inc. Has $139.77 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Charles Schwab Investment Management Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 29.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 891,531 shares of the technology company’s stock after selling 371,535 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in GoDaddy were worth $139,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares during the period. Prime Capital Investment Advisors LLC increased its stake in GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC boosted its position in shares of GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after purchasing an additional 99 shares in the last quarter. Finally, Equitable Trust Co. grew its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Raymond James increased their price target 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 increased their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, B. Riley lifted their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Price Performance

GoDaddy stock opened at $196.35 on Monday. GoDaddy Inc. has a 52 week low of $94.50 and a 52 week high of $196.71. The company’s 50 day moving average price is $166.62 and its two-hundred day moving average price is $153.46. The stock has a market cap of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current 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.