Crossmark Global Holdings Inc. Sells 3,726 Shares of GoDaddy Inc. (NYSE:GDDY)

Crossmark Global Holdings Inc. cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,222 shares of the technology company's stock after selling 3,726 shares during the period. Crossmark Global Holdings Inc.'s holdings in GoDaddy were worth $6,345,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its holdings in GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after acquiring an additional 136 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after acquiring an additional 165 shares during the last quarter. City Holding Co. boosted its holdings in GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after acquiring an additional 60 shares during the last quarter. OFI Invest Asset Management bought a new stake in GoDaddy in the fourth quarter valued at approximately $52,000. Finally, Crewe Advisors LLC bought a new stake in GoDaddy in the first quarter valued at approximately $53,000. 90.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler increased their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Jefferies Financial Group cut their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $214.86.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction 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 directly owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $179.68, for a total value of $89,840.00. Following the completion of the sale, the director directly owned 21,957 shares of the company's stock, valued at $3,945,233.76. The trade was a 2.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,757 shares of company stock worth $12,246,080 in the last three months. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $178.65 on Tuesday. 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 Inc. has a twelve month low of $140.11 and a twelve month high of $216.00. The stock's 50 day moving average is $181.49 and its 200-day moving average is $185.62. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 34.36 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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 return on equity of 211.09% and a net margin of 16.20%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $2.76 earnings per share. GoDaddy's revenue for the quarter 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.

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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