Commerce Bank Sells 9,320 Shares of GoDaddy Inc. (NYSE:GDDY)

Commerce Bank reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 18.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,911 shares of the technology company's stock after selling 9,320 shares during the quarter. Commerce Bank's holdings in GoDaddy were worth $8,075,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GDDY. Proficio Capital Partners LLC bought a new position in GoDaddy in the 4th quarter valued at $25,554,000. CWA Asset Management Group LLC increased its stake in GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company's stock worth $3,172,000 after acquiring an additional 3,631 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of GoDaddy in the 4th quarter valued at about $1,045,000. Mount Yale Investment Advisors LLC raised its holdings in shares of GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company's stock valued at $1,110,000 after acquiring an additional 3,783 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of GoDaddy by 68.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after acquiring an additional 499 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Up 1.7 %

NYSE:GDDY traded up $3.03 during trading hours on Friday, hitting $183.45. The company had a trading volume of 535,227 shares, compared to its average volume of 1,545,677. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a 50-day moving average price of $175.31 and a 200 day moving average price of $186.22. The company has a market capitalization of $25.93 billion, a PE ratio of 28.44 and a beta of 1.19. GoDaddy Inc. has a 52 week low of $120.59 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. On average, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

GDDY has been the topic of several research analyst reports. Barclays upped their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Jefferies Financial Group lowered their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. StockNews.com downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.60.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares of the company's stock, valued at $20,750,193.75. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock worth $3,518,150. Company insiders own 0.61% of the company's stock.

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.