Envestnet Portfolio Solutions Inc. Sells 4,604 Shares of GoDaddy Inc. (NYSE:GDDY)

Envestnet Portfolio Solutions Inc. reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 28.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,753 shares of the technology company's stock after selling 4,604 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in GoDaddy were worth $2,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Union Bancaire Privee UBP SA acquired a new stake in GoDaddy in the fourth quarter worth about $7,916,000. Truist Financial Corp grew its position in shares of GoDaddy by 5.4% during the 4th quarter. Truist Financial Corp now owns 29,254 shares of the technology company's stock worth $5,774,000 after buying an additional 1,500 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $220,000. Global Retirement Partners LLC raised its stake in shares of GoDaddy by 31.1% during the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock worth $77,000 after buying an additional 93 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in GoDaddy by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 2,335 shares of the technology company's stock valued at $461,000 after buying an additional 148 shares during the period. Institutional investors own 90.28% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays lowered their target price on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler upped their price objective on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Finally, Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Price Performance

NYSE GDDY opened at $174.70 on Monday. The business has a 50 day simple moving average of $180.84 and a 200 day simple moving average of $187.76. GoDaddy Inc. has a 52-week low of $136.75 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 33.60 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly 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). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 EPS. Analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 16th. The shares were sold at an average price of $175.96, for a total value of $175,960.00. Following the sale, the chief operating officer now directly owns 254,949 shares in the company, valued at approximately $44,860,826.04. The trade was a 0.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the sale, the chief executive officer now directly owns 443,947 shares in the company, valued at $79,843,867.95. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,632 shares of company stock worth $12,602,635 over the last three months. Corporate insiders own 0.61% 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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