TD Asset Management Inc Sells 96,390 Shares of GoDaddy Inc. $GDDY

TD Asset Management Inc lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 37.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 164,292 shares of the technology company’s stock after selling 96,390 shares during the quarter. TD Asset Management Inc owned 0.12% of GoDaddy worth $20,385,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rachor Investment Advisory Services LLC bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $25,000. Activest Wealth Management grew its position in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in GoDaddy in the 4th quarter valued at $25,000. Brown Brothers Harriman & Co. grew its position in GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after acquiring an additional 150 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $84.59 on Monday. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $183.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The business’s fifty day simple moving average is $85.70 and its 200-day simple moving average is $99.42. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.76 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Piper Sandler assumed coverage on GoDaddy in a research report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective on the stock. UBS Group assumed coverage on GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective on the stock. Citigroup cut their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Cantor Fitzgerald cut their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price objective on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average price target of $120.57.

Insider Transactions at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director owned 5,708 shares of the company’s stock, valued at approximately $501,390.72. This represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the transaction, the chief executive officer directly owned 521,747 shares in the company, valued at $46,884,185.42. The trade was a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 14,561 shares of company stock worth $1,308,104 over the last quarter. 0.93% of the stock is owned by corporate insiders.

GoDaddy Company 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.