GoDaddy Inc. (NYSE:GDDY) Position Trimmed by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 14.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,665 shares of the technology company’s stock after selling 2,034 shares during the period. Coronation Fund Managers Ltd.’s holdings in GoDaddy were worth $1,630,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in GoDaddy in the fourth quarter valued at $28,000. GAMMA Investing LLC boosted its stake in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter worth about $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $33,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of GoDaddy during the first quarter valued at approximately $45,000. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,825 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25. Following the completion of the sale, the chief executive officer now owns 377,498 shares in the company, valued at approximately $52,128,698.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of GoDaddy stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25. Following the sale, the chief executive officer now directly owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,413 shares of company stock valued at $6,931,096. 0.61% of the stock is owned by insiders.

GoDaddy Trading Up 0.7 %

Shares of NYSE:GDDY traded up $1.15 during mid-day trading on Friday, hitting $163.60. The stock had a trading volume of 1,028,082 shares, compared to its average volume of 1,602,315. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $164.25. 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 company has a market cap of $23.34 billion, a PE ratio of 13.59 and a beta of 1.14. The company’s 50 day moving average is $145.34 and its 200-day moving average is $130.47.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, sell-side analysts predict that GoDaddy Inc. will post 4.81 EPS for the current year.

Analysts Set New Price Targets

GDDY has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Robert W. Baird increased their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price target on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Morgan Stanley increased their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.25.

GoDaddy 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.