Rathbones Group PLC Has $414,000 Stake in GoDaddy Inc. $GDDY

Rathbones Group PLC reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 89.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,009 shares of the technology company’s stock after selling 41,455 shares during the quarter. Rathbones Group PLC’s holdings in GoDaddy were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. NewEdge Advisors LLC lifted its holdings in GoDaddy by 49.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,422 shares of the technology company’s stock valued at $366,000 after purchasing an additional 1,466 shares during the last quarter. Henshaw Capital LLC boosted its position in GoDaddy by 19.4% during the first quarter. Henshaw Capital LLC now owns 36,064 shares of the technology company’s stock worth $2,981,000 after purchasing an additional 5,871 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of GoDaddy by 26.1% in the first quarter. Glenmede Trust Co. NA now owns 3,787 shares of the technology company’s stock valued at $313,000 after purchasing an additional 783 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of GoDaddy in the first quarter valued at $204,000. Finally, Bank of America Corp DE raised its position in shares of GoDaddy by 27.9% in the first quarter. Bank of America Corp DE now owns 1,383,615 shares of the technology company’s stock valued at $114,383,000 after purchasing an additional 302,126 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Up 2.9%

GDDY stock opened at $91.68 on Thursday. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $157.40. The company has a debt-to-equity ratio of 561.10, a current ratio of 0.63 and a quick ratio of 0.67. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.80 and a beta of 0.90. The business’s fifty day moving average price is $86.71 and its two-hundred day moving average price is $88.24.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. GoDaddy’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 earnings per share. On average, equities analysts anticipate that GoDaddy Inc. will post 7.21 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on GDDY shares. Piper Sandler restated a “neutral” rating and set a $95.00 target price (up from $93.00) on shares of GoDaddy in a research note on Friday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Benchmark lowered their price target on shares of GoDaddy from $185.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, July 31st. William Blair downgraded shares of GoDaddy from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Finally, Wedbush cut their price objective on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a research report on Monday. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.33.

More GoDaddy News

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Momentum remains a supporting factor. Zacks highlighted GoDaddy as a strong momentum stock, suggesting favorable recent trading and/or market-performance characteristics. Here’s Why GoDaddy Is a Strong Momentum Stock
• Neutral Sentiment: Management will present to investors on Aug. 11. CFO Mark McCaffrey is scheduled to speak at the Oppenheimer Technology, Internet & Communications Conference, creating a potential opportunity for GoDaddy to discuss business trends and outlook. GoDaddy Conference Presentation
• Neutral Sentiment: CEO Amanpal Singh Bhutani sold 4,500 shares. The approximately $374,000 sale reduced his holdings by 0.86% and was conducted under a pre-arranged Rule 10b5-1 trading plan, which makes it a limited signal of his current outlook. SEC Insider Trading Filing
• Negative Sentiment: Analysts expressed greater caution. Wedbush issued a pessimistic forecast, while Citigroup lowered its expectations for GoDaddy’s stock, potentially weighing on valuation and investor confidence. Wedbush Forecast Citigroup Expectations
• Negative Sentiment: Law firms announced investigations into potential securities-law violations. Rosen Law Firm and Kaplan Fox said they are investigating allegations that GoDaddy may have provided materially misleading business information. These announcements do not establish wrongdoing, but they add litigation and reputational risk and may increase volatility. Rosen Law Firm Investigation Kaplan Fox Investigation

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, the chief accounting officer owned 19,995 shares in the company, valued at $1,796,750.70. This represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the transaction, the chief executive officer owned 521,747 shares in the company, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,251 shares of company stock valued at $1,854,403 in the last three months. 0.93% of the stock is owned by insiders.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.