GoDaddy Inc. (NYSE:GDDY) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 70.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the technology company's stock after selling 6,108 shares during the quarter. TD Private Client Wealth LLC's holdings in GoDaddy were worth $454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. Concurrent Investment Advisors LLC purchased a new position in GoDaddy during the first quarter valued at $767,000. Bank of New York Mellon Corp boosted its holdings in shares of GoDaddy by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 953,704 shares of the technology company's stock valued at $171,800,000 after acquiring an additional 4,013 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in GoDaddy in the first quarter worth approximately $70,000. Brookstone Capital Management purchased a new stake in GoDaddy during the first quarter valued at $1,509,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of GoDaddy by 3,124.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 39,914 shares of the technology company's stock worth $7,190,000 after buying an additional 38,676 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Down 1.8%

Shares of NYSE:GDDY traded down $3.02 during trading on Friday, reaching $167.75. The stock had a trading volume of 1,655,369 shares, compared to its average volume of 1,337,059. GoDaddy Inc. has a one year low of $140.11 and a one year high of $216.00. The firm's 50-day simple moving average is $180.38 and its 200 day simple moving average is $184.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The company has a market capitalization of $23.90 billion, a P/E ratio of 33.42 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $2.76 EPS. GoDaddy's revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GDDY. Citigroup lowered their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Barclays lowered their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $225.00 price target on shares of GoDaddy in a report on Monday, June 23rd. Finally, Piper Sandler raised their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 625 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total transaction of $110,675.00. Following the transaction, the chief financial officer directly owned 73,459 shares in the company, valued at approximately $13,008,119.72. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 2,173 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the transaction, the chief accounting officer directly owned 21,198 shares in the company, valued at $3,770,488.26. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,757 shares of company stock valued at $12,246,080 in the last quarter. 0.61% of the stock is currently owned by insiders.

About GoDaddy

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.