Assetmark Inc. Lowers Holdings in GoDaddy Inc. (NYSE:GDDY)

Assetmark Inc. trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,957 shares of the technology company’s stock after selling 10,339 shares during the quarter. Assetmark Inc.’s holdings in GoDaddy were worth $8,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC increased its position in GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC raised its position in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after acquiring an additional 64 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after acquiring an additional 71 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock worth $1,294,000 after purchasing an additional 74 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on GDDY. Raymond James boosted their price objective 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. Benchmark raised 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. Piper Sandler lifted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Wells Fargo & Company started coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Finally, StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Up 2.0 %

Shares of NYSE GDDY opened at $175.52 on Friday. The firm has a market cap of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 1 year low of $112.49 and a 1 year high of $216.00. The firm’s 50 day moving average price is $195.50 and its 200 day moving average price is $182.12.

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

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares in the company, valued at approximately $91,350,548.34. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the sale, the director now owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,034 shares of company stock worth $4,166,030. 0.61% of the stock is owned by company insiders.

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.