GoDaddy Inc. $GDDY Holdings Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 633,127 shares of the technology company’s stock after selling 162,023 shares during the period. Hsbc Holdings PLC’s holdings in GoDaddy were worth $78,616,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GDDY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy during the 4th quarter valued at about $25,000. Rachor Investment Advisory Services LLC bought a new position in GoDaddy in the fourth quarter worth about $25,000. Activest Wealth Management boosted its stake in GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Harbour Investments Inc. boosted its stake in GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares during the period. Finally, Entrust Financial LLC acquired a new position in GoDaddy in the fourth quarter valued at approximately $35,000. 90.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GDDY shares. Benchmark dropped their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. Finally, Piper Sandler initiated coverage on GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $118.43.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the sale, the chief executive officer directly owned 521,747 shares in the company, valued at $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the sale, the director directly owned 5,708 shares in the company, valued at $501,390.72. The trade was a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is owned by corporate insiders.

GoDaddy Price Performance

NYSE GDDY opened at $88.42 on Friday. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $179.61. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89. The company has a 50-day moving average price of $84.81 and a two-hundred day moving average price of $93.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. Analysts forecast that GoDaddy Inc. will post 7.13 EPS for the current year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.