Rathbones Group PLC Sells 2,754 Shares of GoDaddy Inc. (NYSE:GDDY)

Key Points

• Rathbones Group PLC reduced its holdings in GoDaddy Inc. by 8.5%, now owning 29,613 shares valued at approximately $5.3 million.
• Insider sales included CFO Mark Mccaffrey selling 625 shares and CAO Phontip Palitwanon selling 2,173 shares, reflecting a trend of insiders reducing their stock ownership.
• GoDaddy's stock saw a trading increase of 3.4%, with recent earnings reports showing an EPS of $1.41, beating analysts' forecasts.

Rathbones Group PLC lessened its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,613 shares of the technology company's stock after selling 2,754 shares during the period. Rathbones Group PLC's holdings in GoDaddy were worth $5,334,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Advisors Capital Management LLC increased its position in GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares during the last quarter. BNP Paribas boosted its holdings in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after acquiring an additional 59 shares during the period. City Holding Co. boosted its holdings in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after acquiring an additional 60 shares during the period. Equitable Trust Co. boosted its holdings in shares of 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 acquiring an additional 64 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after acquiring an additional 67 shares during the period. Institutional investors own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 3,317 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $596,429.77. Following the transaction, the chief financial officer owned 74,084 shares in the company, valued at $13,321,044.04. The trade was a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Phontip Palitwanon sold 2,173 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the transaction, the chief accounting officer owned 21,198 shares in the company, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,881 shares of company stock valued at $5,725,860. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDDY. Barclays cut their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada dropped their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wells Fargo & Company dropped their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Citigroup dropped their price objective on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Trading Up 1.7%

Shares of GDDY traded up $2.49 during trading hours on Friday, hitting $146.12. The company had a trading volume of 2,456,652 shares, compared to its average volume of 2,312,854. The firm has a market cap of $20.82 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.58 and a beta of 1.08. The stock's 50 day moving average price is $167.44 and its 200 day moving average price is $177.32. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 52-week low of $132.51 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current 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.