Commerce Bank Has $7.65 Million Position in GoDaddy Inc. (NYSE:GDDY)

Commerce Bank cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 4.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 64,461 shares of the technology company’s stock after selling 3,060 shares during the quarter. Commerce Bank’s holdings in GoDaddy were worth $7,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gotham Asset Management LLC raised its position in shares of GoDaddy by 103.5% in the 3rd quarter. Gotham Asset Management LLC now owns 6,180 shares of the technology company’s stock worth $460,000 after acquiring an additional 3,143 shares in the last quarter. Legal & General Group Plc increased its position in GoDaddy by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 750,749 shares of the technology company’s stock valued at $55,916,000 after buying an additional 32,622 shares in the last quarter. Royal London Asset Management Ltd. increased its position in GoDaddy by 1.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 57,012 shares of the technology company’s stock valued at $4,248,000 after buying an additional 671 shares in the last quarter. iA Global Asset Management Inc. increased its position in GoDaddy by 10.0% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,913 shares of the technology company’s stock valued at $217,000 after buying an additional 264 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in GoDaddy by 16.1% in the 3rd quarter. Townsquare Capital LLC now owns 15,981 shares of the technology company’s stock valued at $1,190,000 after buying an additional 2,220 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

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 transaction, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,071 shares of company stock valued at $6,875,606. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $141.87 on Thursday. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $145.36. The stock’s 50 day moving average price is $137.90 and its 200-day moving average price is $122.33. The company has a market capitalization of $20.24 billion, a PE ratio of 11.83 and a beta of 1.14. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. On average, equities analysts anticipate that GoDaddy Inc. will post 4.82 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group boosted their target price on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, Evercore ISI boosted their price objective on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.92.

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.