Charles Schwab Investment Management Inc. Trims Stake in GoDaddy Inc. (NYSE:GDDY)

Charles Schwab Investment Management Inc. decreased its stake in shares of GoDaddy Inc. (NYSE:GDDYFree Report) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,107,901 shares of the technology company’s stock after selling 5,327 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of GoDaddy worth $82,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Whittier Trust Co. lifted its position in GoDaddy by 9.1% during the third quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock valued at $125,000 after purchasing an additional 141 shares during the period. Arizona State Retirement System increased its holdings in GoDaddy by 0.4% during the third quarter. Arizona State Retirement System now owns 39,966 shares of the technology company’s stock valued at $2,977,000 after buying an additional 162 shares during the last quarter. Alaska Permanent Fund Corp increased its holdings in GoDaddy by 0.8% during the third quarter. Alaska Permanent Fund Corp now owns 20,023 shares of the technology company’s stock valued at $1,491,000 after buying an additional 164 shares during the last quarter. CIBC Asset Management Inc increased its holdings in GoDaddy by 3.4% during the first quarter. CIBC Asset Management Inc now owns 6,145 shares of the technology company’s stock valued at $478,000 after buying an additional 203 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in GoDaddy by 0.8% during the fourth quarter. Voya Investment Management LLC now owns 27,592 shares of the technology company’s stock valued at $2,064,000 after buying an additional 212 shares during the last quarter. Institutional investors own 95.03% of the company’s stock.

GoDaddy Trading Up 0.3 %

GoDaddy stock opened at $112.92 on Monday. The firm has a 50-day moving average price of $106.22 and a 200-day moving average price of $87.66. The firm has a market capitalization of $15.94 billion, a PE ratio of 48.46 and a beta of 1.12. GoDaddy Inc. has a 12-month low of $67.43 and a 12-month high of $113.70.

Analysts Set New Price Targets

A number of brokerages have commented on GDDY. Benchmark upped their target price on shares of GoDaddy from $96.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. B. Riley upped their target price on shares of GoDaddy from $107.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, November 30th. UBS Group upped their target price on shares of GoDaddy from $85.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada raised shares of GoDaddy from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $90.00 to $124.00 in a research note on Wednesday, November 22nd. Finally, Oppenheimer began coverage on shares of GoDaddy in a research note on Tuesday, October 17th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $112.88.

View Our Latest Stock Report on GDDY

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 505 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $102.47, for a total value of $51,747.35. Following the sale, the chief financial officer now directly owns 77,158 shares of the company’s stock, valued at approximately $7,906,380.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Nick Daddario sold 300 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $89.26, for a total value of $26,778.00. Following the completion of the sale, the chief accounting officer now directly owns 18,196 shares in the company, valued at $1,624,174.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 505 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $102.47, for a total transaction of $51,747.35. Following the completion of the sale, the chief financial officer now directly owns 77,158 shares of the company’s stock, valued at approximately $7,906,380.26. The disclosure for this sale can be found here. Insiders have sold 86,119 shares of company stock valued at $8,306,786 in the last 90 days. Company insiders own 0.54% of the company’s stock.

GoDaddy Company Profile

(Free Report)

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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.

See Also

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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