CW Advisors LLC Cuts Stake in GoDaddy Inc. $GDDY

CW Advisors LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 21.4% in the second quarter, Holdings Channel reports. The firm owned 47,574 shares of the technology company’s stock after selling 12,932 shares during the quarter. CW Advisors LLC’s holdings in GoDaddy were worth $8,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GDDY. CX Institutional grew its holdings in shares of GoDaddy by 13.1% during the second quarter. CX Institutional now owns 577 shares of the technology company’s stock valued at $104,000 after buying an additional 67 shares during the last quarter. MAI Capital Management lifted its position in GoDaddy by 8.7% in the 1st quarter. MAI Capital Management now owns 1,027 shares of the technology company’s stock valued at $185,000 after acquiring an additional 82 shares in the last quarter. UMB Bank n.a. boosted its stake in GoDaddy by 13.1% during the 2nd quarter. UMB Bank n.a. now owns 795 shares of the technology company’s stock valued at $143,000 after purchasing an additional 92 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after purchasing an additional 92 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.1%

Shares of GDDY stock opened at $130.23 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a 12 month low of $121.94 and a 12 month high of $216.00. The stock has a market cap of $17.60 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.45 and a beta of 0.95. The company has a 50 day simple moving average of $131.10 and a two-hundred day simple moving average of $152.06.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS. On average, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GDDY shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Barclays lowered their target price on shares of GoDaddy from $235.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of GoDaddy in a research note on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Evercore ISI cut their target price on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.14.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 969 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $123,973.86. Following the completion of the sale, the chief accounting officer owned 19,452 shares in the company, valued at $2,488,688.88. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the transaction, the chief executive officer directly owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,218 shares of company stock valued at $2,615,781 in the last ninety days. 0.70% of the stock is currently 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.