Mackenzie Financial Corp Has $16.75 Million Position in GoDaddy Inc. (NYSE:GDDY)

Mackenzie Financial Corp lessened its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 92,987 shares of the technology company's stock after selling 28,198 shares during the quarter. Mackenzie Financial Corp owned 0.07% of GoDaddy worth $16,751,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC bought a new position in GoDaddy in the first quarter valued at about $27,000. Private Trust Co. NA grew its holdings in GoDaddy by 591.3% during the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares during the period. GW&K Investment Management LLC lifted its holdings in GoDaddy by 307.9% during the first quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock worth $46,000 after acquiring an additional 194 shares in the last quarter. Finally, City Holding Co. raised its holdings in GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a research report on Monday, June 23rd. Benchmark restated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Barclays cut their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $214.86.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $179.68, for a total transaction of $89,840.00. Following the sale, the director directly owned 21,957 shares of the company's stock, valued at approximately $3,945,233.76. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 625 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the transaction, the chief financial officer owned 73,459 shares of the company's stock, valued at approximately $13,008,119.72. This represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,257 shares of company stock worth $11,575,910 over the last quarter. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GDDY stock traded down $5.16 during mid-day trading on Friday, hitting $156.42. The stock had a trading volume of 1,888,665 shares, compared to its average volume of 1,374,308. The firm has a fifty day simple moving average of $175.07 and a 200 day simple moving average of $181.89. The firm has a market capitalization of $22.29 billion, a P/E ratio of 30.08 and a beta of 1.08. 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 52 week low of $144.72 and a 52 week high of $216.00.

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

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.