Amalgamated Bank Sells 649 Shares of GoDaddy Inc. (NYSE:GDDY)

Amalgamated Bank cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,946 shares of the technology company’s stock after selling 649 shares during the quarter. Amalgamated Bank’s holdings in GoDaddy were worth $5,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. WCM Investment Management LLC boosted its stake in shares of GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. bought a new position in GoDaddy in the 4th quarter valued at approximately $111,923,000. Mizuho Securities USA LLC boosted its position in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after buying an additional 350,839 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after buying an additional 349,358 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Benchmark upped their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Seven equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $98,885.00. Following the completion of the sale, the director now directly owns 23,621 shares in the company, valued at $4,671,525.17. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the transaction, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,482 shares of company stock valued at $4,903,930. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GDDY stock opened at $174.70 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 27.08 and a beta of 1.15. The company’s fifty day simple moving average is $199.58 and its 200 day simple moving average is $181.55. GoDaddy Inc. has a 12-month low of $108.38 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.