TD Asset Management Inc Trims Holdings in GoDaddy Inc. (NYSE:GDDY)

TD Asset Management Inc cut its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 57.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,392 shares of the technology company's stock after selling 154,745 shares during the period. TD Asset Management Inc owned approximately 0.08% of GoDaddy worth $20,426,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC raised its stake in shares of GoDaddy by 54.6% in the 1st quarter. HB Wealth Management LLC now owns 4,243 shares of the technology company's stock valued at $764,000 after acquiring an additional 1,498 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of GoDaddy by 37.0% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 65,013 shares of the technology company's stock valued at $11,711,000 after acquiring an additional 17,572 shares during the period. Equitable Trust Co. raised its stake in shares of GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock valued at $1,199,000 after acquiring an additional 64 shares during the period. Pacer Advisors Inc. raised its stake in shares of GoDaddy by 893.4% in the 1st quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock valued at $116,685,000 after acquiring an additional 582,539 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of GoDaddy by 37.6% in the 1st quarter. Cetera Investment Advisers now owns 31,919 shares of the technology company's stock valued at $5,750,000 after acquiring an additional 8,719 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the transaction, the chief financial officer owned 77,250 shares of the company's stock, valued at approximately $13,978,387.50. The trade was a 32.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,257 shares of company stock worth $11,575,910. Corporate insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Citigroup dropped their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Stock Down 3.2%

Shares of GoDaddy stock traded down $5.16 during trading hours on Friday, hitting $156.42. The company had a trading volume of 1,888,659 shares, compared to its average volume of 1,480,238. The company's 50-day moving average is $175.07 and its two-hundred day moving average is $181.89. GoDaddy Inc. has a twelve month low of $144.72 and a twelve month high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $22.29 billion, a P/E ratio of 30.08 and a beta of 1.05.

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