GoDaddy Inc. (NYSE:GDDY) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 0.4% in the 3rd quarter, Holdings Channel reports. The fund owned 74,880 shares of the technology company’s stock after selling 303 shares during the period. Toronto Dominion Bank’s holdings in GoDaddy were worth $11,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GDDY. State Street Corp raised its holdings in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares in the last quarter. FMR LLC lifted its position in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Federated Hermes Inc. grew its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after buying an additional 203,909 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Robert W. Baird lifted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Stock Performance

Shares of GDDY stock opened at $206.73 on Friday. GoDaddy Inc. has a 12-month low of $99.90 and a 12-month high of $210.30. 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 firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 15.98 and a beta of 1.15. The business has a 50 day simple moving average of $180.63 and a 200 day simple moving average of $160.28.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior 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. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares in the company, valued at approximately $4,384,869.50. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,503 shares of company stock valued at $4,102,853. Company insiders own 0.61% of the company’s stock.

GoDaddy Company 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.