GoDaddy Inc. (NYSE:GDDY) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in GoDaddy by 33.1%, selling 493,122 shares and retaining 997,658 shares valued at approximately $179.7 million.
• Insider trading activity included CFO Mark McCaffrey and CEO Amanpal Singh Bhutani selling shares, reducing their ownership by 0.84% and 1.39% respectively.
• GoDaddy recently missed earnings expectations, reporting $1.27 EPS against a consensus estimate of $1.35, despite an 8.6% revenue growth year-over-year.

Federated Hermes Inc. reduced its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 33.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 997,658 shares of the technology company's stock after selling 493,122 shares during the quarter. Federated Hermes Inc. owned about 0.71% of GoDaddy worth $179,718,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. LPL Financial LLC raised its stake in GoDaddy by 26.7% during the first quarter. LPL Financial LLC now owns 83,789 shares of the technology company's stock valued at $15,094,000 after buying an additional 17,680 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of GoDaddy by 4.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,044 shares of the technology company's stock worth $5,412,000 after acquiring an additional 1,320 shares during the period. HB Wealth Management LLC grew its holdings in shares of GoDaddy by 54.6% in the first quarter. HB Wealth Management LLC now owns 4,243 shares of the technology company's stock worth $764,000 after acquiring an additional 1,498 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in GoDaddy by 37.0% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 65,013 shares of the technology company's stock valued at $11,711,000 after purchasing an additional 17,572 shares during the period. Finally, Equitable Trust Co. grew its holdings in GoDaddy by 1.0% during the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock valued at $1,199,000 after purchasing an additional 64 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred 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 directly owned 254,949 shares in the company, valued at $44,860,826.04. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 37,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the sale, the chief financial officer owned 77,250 shares in the company, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,257 shares of company stock valued at $11,575,910. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Down 3.2%

Shares of GDDY stock traded down $5.20 on Friday, reaching $156.38. 1,151,530 shares of the stock were exchanged, compared to its average volume of 1,474,154. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a twelve month low of $144.72 and a twelve month high of $216.00. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 30.17 and a beta of 1.05. The business's 50 day moving average price is $175.07 and its 200 day moving average price is $181.89.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GDDY shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a research note on Monday, June 23rd. Barclays dropped their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Morgan Stanley dropped 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. Finally, Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Company 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.