Congress Asset Management Co. Sells 50,010 Shares of GoDaddy Inc. $GDDY

Key Points

• Congress Asset Management Co. has reduced its stake in GoDaddy Inc. by 10.9%, selling 50,010 shares, and now holds 0.29% of the company, valued at approximately $73.8 million.
• Several analysts recently downgraded GoDaddy's target price, with Raymond James and others reducing their targets to between $175 and $200, while maintaining various ratings from "strong buy" to "overweight."
• GoDaddy reported a $1.41 earnings per share for the latest quarter, surpassing expectations, along with a year-over-year revenue increase of 8.3%.

Congress Asset Management Co. lessened its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 409,838 shares of the technology company's stock after selling 50,010 shares during the period. Congress Asset Management Co. owned 0.29% of GoDaddy worth $73,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City Holding Co. raised its position in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after acquiring an additional 60 shares in the last quarter. Equitable Trust Co. increased its holdings in GoDaddy by 1.0% in the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after purchasing an additional 64 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after buying an additional 67 shares during the period. CX Institutional boosted its holdings in shares of GoDaddy by 13.1% during the 2nd quarter. CX Institutional now owns 577 shares of the technology company's stock worth $104,000 after buying an additional 67 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of GoDaddy by 4.9% during the 1st quarter. Allworth Financial LP now owns 1,575 shares of the technology company's stock worth $284,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

GDDY has been the topic of several research analyst reports. Raymond James Financial cut their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Citigroup cut their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada decreased their target price on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Barclays cut their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, GoDaddy has an average rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Price Performance

GDDY opened at $141.15 on Friday. GoDaddy Inc. has a 1 year low of $132.51 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 1.55 and a beta of 1.02. The firm's fifty day moving average price is $150.08 and its two-hundred day moving average price is $168.53.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm earned $1.01 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 777 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $110,497.17. Following the completion of the transaction, the chief accounting officer owned 20,421 shares in the company, valued at approximately $2,904,070.41. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief executive officer directly owned 406,065 shares in the company, valued at approximately $60,909,750. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,828 shares of company stock valued at $5,394,638 in the last ninety days. Insiders own 0.70% of the company's stock.

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.

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