Verdence Capital Advisors LLC Sells 6,314 Shares of GoDaddy Inc. (NYSE:GDDY)

Verdence Capital Advisors LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,880 shares of the technology company's stock after selling 6,314 shares during the quarter. Verdence Capital Advisors LLC's holdings in GoDaddy were worth $1,239,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of GoDaddy in the 4th quarter valued at about $44,668,000. HighTower Advisors LLC boosted its stake in GoDaddy by 25.7% in the fourth quarter. HighTower Advisors LLC now owns 20,604 shares of the technology company's stock valued at $4,067,000 after acquiring an additional 4,219 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in GoDaddy by 16.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,863 shares of the technology company's stock valued at $565,000 after acquiring an additional 398 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in GoDaddy by 26.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,523 shares of the technology company's stock worth $1,485,000 after acquiring an additional 1,595 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of GoDaddy by 163.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,357 shares of the technology company's stock valued at $3,228,000 after acquiring an additional 10,140 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Up 0.3%

GDDY stock traded up $0.51 during trading hours on Friday, reaching $168.80. 1,272,037 shares of the stock were exchanged, compared to its average volume of 1,342,339. The firm's 50-day moving average is $178.96 and its 200-day moving average is $183.81. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 32.93 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 12 month low of $140.11 and a 12 month high of $216.00.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on GDDY shares. Morgan Stanley reduced their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Jefferies Financial Group decreased their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Citigroup cut their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $225.00 price target on shares of GoDaddy in a research report on Monday, June 23rd. Seven research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $214.86.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 37,500 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 77,250 shares of the company's stock, valued at $13,978,387.50. The trade was a 32.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00. Following the transaction, the chief operating officer owned 254,949 shares of the company's stock, valued at approximately $44,860,826.04. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,757 shares of company stock valued at $12,243,920 over the last quarter. Insiders own 0.61% of the company's stock.

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.