Assetmark Inc. Sells 7,055 Shares of GoDaddy Inc. (NYSE:GDDY)

Assetmark Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 17.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,902 shares of the technology company's stock after selling 7,055 shares during the quarter. Assetmark Inc.'s holdings in GoDaddy were worth $6,107,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in shares of GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after buying an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after purchasing an additional 719,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of GoDaddy by 18,248.7% in the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock worth $92,516,000 after purchasing an additional 510,780 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of GoDaddy by 88.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock worth $213,630,000 after purchasing an additional 507,374 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of GoDaddy by 93.0% in the fourth quarter. Nuveen Asset Management LLC now owns 996,538 shares of the technology company's stock worth $196,687,000 after purchasing an additional 480,263 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

NYSE:GDDY traded down $3.97 during trading hours on Friday, hitting $157.61. 648,031 shares of the stock traded hands, compared to its average volume of 1,471,240. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 30.33 and a beta of 1.05. GoDaddy Inc. has a 1 year low of $144.72 and a 1 year high of $216.00. The stock has a 50 day moving average price of $175.07 and a 200 day moving average price of $181.89. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the firm posted $2.76 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GDDY shares. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a research report on Monday, June 23rd. Piper Sandler increased their price target on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays cut their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $176.93, for a total value of $1,061,580.00. Following the transaction, the chief executive officer directly owned 425,015 shares of the company's stock, valued at approximately $75,197,903.95. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 625 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total transaction of $110,675.00. Following the sale, the chief financial officer directly owned 73,459 shares of the company's stock, valued at approximately $13,008,119.72. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,257 shares of company stock valued at $11,575,910. 0.61% of the stock is currently owned by corporate insiders.

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.