Greenleaf Trust Decreases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Greenleaf Trust reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,311 shares of the technology company’s stock after selling 904 shares during the period. Greenleaf Trust’s holdings in GoDaddy were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GDDY. National Bank of Canada FI increased its position in GoDaddy by 3,899.4% during the 3rd quarter. National Bank of Canada FI now owns 26,276 shares of the technology company’s stock valued at $1,947,000 after buying an additional 25,619 shares in the last quarter. CWM LLC increased its position in GoDaddy by 16.3% during the 3rd quarter. CWM LLC now owns 1,538 shares of the technology company’s stock valued at $115,000 after buying an additional 216 shares in the last quarter. DnB Asset Management AS increased its holdings in shares of GoDaddy by 5.6% in the third quarter. DnB Asset Management AS now owns 25,636 shares of the technology company’s stock valued at $1,909,000 after purchasing an additional 1,348 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of GoDaddy by 78.7% in the third quarter. State of Alaska Department of Revenue now owns 39,605 shares of the technology company’s stock valued at $2,949,000 after purchasing an additional 17,445 shares during the period. Finally, Alta Capital Management LLC increased its holdings in shares of GoDaddy by 2.8% in the third quarter. Alta Capital Management LLC now owns 149,080 shares of the technology company’s stock valued at $11,103,000 after purchasing an additional 4,085 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the transaction, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the transaction, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. Insiders have sold a total of 121,234 shares of company stock worth $13,534,946 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $123.40 on Wednesday. The company has a market capitalization of $17.58 billion, a P/E ratio of 12.88 and a beta of 1.12. The business’s 50 day moving average is $117.96 and its two-hundred day moving average is $104.15. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 12-month low of $67.43 and a 12-month high of $127.15.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. Analysts expect that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GDDY. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. B. Riley increased their price objective on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Evercore ISI lowered GoDaddy from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $100.00 to $110.00 in a report on Wednesday, February 14th. Morgan Stanley increased their price objective on GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Finally, Robert W. Baird raised their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.18.

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.