Mn Services Vermogensbeheer B.V. Sells 1,300 Shares of GoDaddy Inc. (NYSE:GDDY)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,300 shares of the technology company’s stock after selling 1,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in GoDaddy were worth $8,043,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of GoDaddy during the first quarter valued at approximately $75,855,000. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the period. Wedge Capital Management L L P NC grew its stake in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the sale, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the transaction, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,744 shares of company stock valued at $4,592,941. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

NYSE GDDY opened at $167.63 on Wednesday. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 12.95 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $159.27 and its 200 day moving average price is $148.10. GoDaddy Inc. has a 1 year low of $84.78 and a 1 year high of $171.93.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that GoDaddy Inc. will post 5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GDDY. Benchmark increased their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $171.38.

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.