GoDaddy Inc. $GDDY Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its holdings in GoDaddy Inc. by 3.3%, owning approximately 480,592 shares worth $86.57 million at the end of the first quarter.
• Several large investors, including Vanguard Group and JPMorgan Chase, have also adjusted their positions in GoDaddy, indicating a significant interest from institutional investors who now own 90.28% of the company's stock.
• GoDaddy reported a 12-month revenue increase of 8.3%, with quarterly earnings beating estimates, which has led to revised ratings and target prices from several analysts.

Royal Bank of Canada cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 480,592 shares of the technology company's stock after selling 16,420 shares during the period. Royal Bank of Canada owned approximately 0.34% of GoDaddy worth $86,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GDDY. MAI Capital Management raised its position in GoDaddy by 8.7% during the first quarter. MAI Capital Management now owns 1,027 shares of the technology company's stock worth $185,000 after acquiring an additional 82 shares in the last quarter. Quarry LP increased its position in shares of GoDaddy by 12.5% in the first quarter. Quarry LP now owns 3,221 shares of the technology company's stock worth $580,000 after purchasing an additional 357 shares during the last quarter. Nomura Holdings Inc. boosted its stake in shares of GoDaddy by 25.0% during the first quarter. Nomura Holdings Inc. now owns 5,777 shares of the technology company's stock valued at $1,041,000 after purchasing an additional 1,156 shares during the period. Panagora Asset Management Inc. increased its holdings in GoDaddy by 402.2% in the 1st quarter. Panagora Asset Management Inc. now owns 372,154 shares of the technology company's stock worth $67,040,000 after buying an additional 298,051 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in shares of GoDaddy by 89.7% during the 1st quarter. Vident Advisory LLC now owns 4,115 shares of the technology company's stock valued at $741,000 after buying an additional 1,946 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $143.53, for a total transaction of $143,530.00. Following the completion of the transaction, the chief operating officer directly owned 252,949 shares in the company, valued at approximately $36,305,769.97. The trade was a 0.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 6,950 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $988,359.50. Following the completion of the transaction, the chief executive officer directly owned 412,065 shares in the company, valued at $58,599,763.65. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,001 shares of company stock worth $4,911,400. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GDDY shares. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays decreased their target price on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Citigroup dropped their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Royal Bank Of Canada reduced their target price on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Wells Fargo & Company reduced their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Price Performance

Shares of GoDaddy stock traded up $2.44 during mid-day trading on Monday, reaching $147.68. 878,650 shares of the stock were exchanged, compared to its average volume of 1,586,022. The firm has a 50-day simple moving average of $157.99 and a 200 day simple moving average of $171.38. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.57 and a beta of 1.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict 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.