Truist Financial Corp Cuts Stock Holdings in GoDaddy Inc. $GDDY

Truist Financial Corp decreased its position in GoDaddy Inc. (NYSE:GDDY) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,739 shares of the technology company’s stock after selling 6,347 shares during the quarter. Truist Financial Corp’s holdings in GoDaddy were worth $2,838,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. J. Safra Sarasin Holding AG grew its position in GoDaddy by 119.6% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 6,075 shares of the technology company’s stock worth $831,000 after purchasing an additional 3,309 shares in the last quarter. GDS Wealth Management boosted its stake in shares of GoDaddy by 14.4% in the 3rd quarter. GDS Wealth Management now owns 68,577 shares of the technology company’s stock worth $9,383,000 after buying an additional 8,637 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of GoDaddy by 145.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 76,199 shares of the technology company’s stock valued at $10,426,000 after acquiring an additional 45,190 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of GoDaddy by 6.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 307,884 shares of the technology company’s stock valued at $42,128,000 after acquiring an additional 17,985 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in GoDaddy by 5.2% during the third quarter. UniSuper Management Pty Ltd now owns 35,155 shares of the technology company’s stock worth $4,810,000 after acquiring an additional 1,725 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the transaction, the chief financial officer directly owned 66,816 shares in the company, valued at approximately $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,615 shares of company stock worth $1,743,102. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. B. Riley lowered their price objective on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, UBS Group decreased their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

GoDaddy Price Performance

GDDY opened at $96.22 on Friday. The firm has a 50-day moving average price of $116.67 and a 200-day moving average price of $132.50. GoDaddy Inc. has a twelve month low of $92.22 and a twelve month high of $214.32. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.87 and a beta of 0.94.

About GoDaddy

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.