Blair William & Co. IL Sells 48,059 Shares of GoDaddy Inc. (NYSE:GDDY)

Key Points

• Blair William & Co. IL significantly reduced its stake in GoDaddy Inc. by 87.3% during the first quarter, leaving it with only 7,000 shares valued at approximately $1.26 million.
• Despite the selling by Blair William & Co., other institutional investors increased their positions in GoDaddy, indicating continued interest in the technology company's stock.
• GoDaddy recently reported earnings of $1.41 per share, surpassing expectations, with revenue growth of 8.3% year-over-year, reflecting a solid financial performance.

Blair William & Co. IL reduced its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 87.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the technology company's stock after selling 48,059 shares during the period. Blair William & Co. IL's holdings in GoDaddy were worth $1,261,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its stake in shares of GoDaddy by 15.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock worth $402,000 after purchasing an additional 293 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of GoDaddy during the 1st quarter worth about $291,000. DAVENPORT & Co LLC raised its stake in shares of GoDaddy by 7.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock worth $354,000 after purchasing an additional 141 shares in the last quarter. Optimist Retirement Group LLC raised its stake in shares of GoDaddy by 5.8% during the 1st quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company's stock worth $274,000 after purchasing an additional 84 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of GoDaddy by 13.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock worth $1,060,000 after purchasing an additional 699 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

GDDY traded up $4.61 during midday trading on Tuesday, reaching $140.38. The company's stock had a trading volume of 3,411,692 shares, compared to its average volume of 2,062,130. The stock has a market cap of $20.00 billion, a P/E ratio of 25.07 and a beta of 1.08. The company has a fifty day simple moving average of $169.68 and a 200 day simple moving average of $178.71. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $1.01 EPS. The company's revenue was up 8.3% on a year-over-year basis. Research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 2,173 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer owned 21,198 shares in the company, valued at approximately $3,770,488.26. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total value of $169,590.00. Following the completion of the sale, the chief operating officer owned 253,949 shares of the company's stock, valued at $43,067,210.91. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,257 shares of company stock worth $5,827,280. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of recent research reports. Raymond James Financial cut their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research note on Friday. Barclays cut their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday. Piper Sandler set a $182.00 price target on GoDaddy and gave the stock an "overweight" rating in a research note on Friday. Citigroup lowered their price objective on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a report on Friday. Finally, Wells Fargo & Company lowered their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $202.43.

About GoDaddy

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.