Rathbones Group PLC Has $414,000 Stock Position in GoDaddy Inc. $GDDY

Rathbones Group PLC lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 89.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,009 shares of the technology company’s stock after selling 41,455 shares during the quarter. Rathbones Group PLC’s holdings in GoDaddy were worth $414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy in the fourth quarter worth about $25,000. Rachor Investment Advisory Services LLC bought a new position in shares of GoDaddy during the 4th quarter valued at about $25,000. Activest Wealth Management lifted its holdings in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of GoDaddy by 93.8% in the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the sale, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $48,704.12. Following the sale, the chief accounting officer directly owned 19,995 shares in the company, valued at $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 21,251 shares of company stock valued at $1,854,403 in the last ninety days. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GDDY shares. JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. B. Riley Financial reduced their price target on shares of GoDaddy from $190.00 to $170.00 and set a “buy” rating for the company in a report on Friday, July 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $90.00 price objective on shares of GoDaddy in a research report on Friday, July 31st. Piper Sandler restated a “neutral” rating and set a $95.00 price objective (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. Finally, Wells Fargo & Company dropped their price objective on shares of GoDaddy from $83.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $110.33.

Key GoDaddy News

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Momentum remains a supporting factor. Zacks highlighted GoDaddy as a strong momentum stock, suggesting favorable recent trading and/or market-performance characteristics. Here’s Why GoDaddy Is a Strong Momentum Stock
• Neutral Sentiment: Management will present to investors on Aug. 11. CFO Mark McCaffrey is scheduled to speak at the Oppenheimer Technology, Internet & Communications Conference, creating a potential opportunity for GoDaddy to discuss business trends and outlook. GoDaddy Conference Presentation
• Neutral Sentiment: CEO Amanpal Singh Bhutani sold 4,500 shares. The approximately $374,000 sale reduced his holdings by 0.86% and was conducted under a pre-arranged Rule 10b5-1 trading plan, which makes it a limited signal of his current outlook. SEC Insider Trading Filing
• Negative Sentiment: Analysts expressed greater caution. Wedbush issued a pessimistic forecast, while Citigroup lowered its expectations for GoDaddy’s stock, potentially weighing on valuation and investor confidence. Wedbush Forecast Citigroup Expectations
• Negative Sentiment: Law firms announced investigations into potential securities-law violations. Rosen Law Firm and Kaplan Fox said they are investigating allegations that GoDaddy may have provided materially misleading business information. These announcements do not establish wrongdoing, but they add litigation and reputational risk and may increase volatility. Rosen Law Firm Investigation Kaplan Fox Investigation

GoDaddy Stock Up 2.9%

GDDY stock opened at $91.68 on Thursday. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.80 and a beta of 0.90. GoDaddy Inc. has a twelve month low of $71.59 and a twelve month high of $157.40. The business has a 50 day moving average price of $86.71 and a two-hundred day moving average price of $88.24. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 561.10.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.14. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. Analysts anticipate that GoDaddy Inc. will post 7.21 EPS for the current fiscal 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.