Makena Capital Management LLC Lowers Holdings in GoDaddy Inc. (NYSE:GDDY)

Makena Capital Management LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,560 shares of the technology company’s stock after selling 12,301 shares during the quarter. GoDaddy accounts for 1.8% of Makena Capital Management LLC’s holdings, making the stock its 26th largest position. Makena Capital Management LLC owned approximately 0.08% of GoDaddy worth $9,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Achmea Investment Management B.V. acquired a new position in GoDaddy in the 1st quarter worth about $31,000. Venturi Wealth Management LLC acquired a new position in shares of GoDaddy during the 1st quarter worth approximately $41,000. Penserra Capital Management LLC purchased a new position in shares of GoDaddy during the 4th quarter valued at approximately $62,000. Cutler Group LLC CA grew its stake in GoDaddy by 214.4% in the 1st quarter. Cutler Group LLC CA now owns 1,245 shares of the technology company’s stock valued at $96,000 after acquiring an additional 849 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in GoDaddy by 3,145.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,655 shares of the technology company’s stock worth $128,000 after acquiring an additional 1,604 shares in the last quarter. 95.03% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Down 0.2 %

NYSE GDDY traded down $0.14 on Tuesday, reaching $92.49. The stock had a trading volume of 278,174 shares, compared to its average volume of 1,404,336. The stock has a fifty day moving average price of $77.80 and a two-hundred day moving average price of $74.82. GoDaddy Inc. has a 12-month low of $67.43 and a 12-month high of $93.45. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of 39.77 and a beta of 0.90.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,164 shares of GoDaddy stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $73.57, for a total value of $232,775.48. Following the completion of the transaction, the chief executive officer now owns 269,961 shares in the company, valued at $19,861,030.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Amanpal Singh Bhutani sold 3,164 shares of GoDaddy stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $73.57, for a total value of $232,775.48. Following the completion of the transaction, the chief executive officer now directly owns 269,961 shares in the company, valued at $19,861,030.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leah Sweet sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $87.00, for a total value of $87,000.00. Following the transaction, the director now directly owns 10,372 shares of the company’s stock, valued at $902,364. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,571 shares of company stock valued at $7,907,672. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GDDY shares. B. Riley upped their price objective on shares of GoDaddy from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Robert W. Baird raised their price target on shares of GoDaddy from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays decreased their target price on GoDaddy from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. StockNews.com upgraded GoDaddy from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. Finally, Piper Sandler raised their price objective on GoDaddy from $84.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $94.45.

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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.