Parkside Financial Bank & Trust Reduces Stake in GoDaddy Inc. (NYSE:GDDY)

Parkside Financial Bank & Trust trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,720 shares of the technology company’s stock after selling 133 shares during the quarter. Parkside Financial Bank & Trust’s holdings in GoDaddy were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its stake in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after acquiring an additional 53 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after purchasing an additional 64 shares during the period. New York Life Investment Management LLC raised its position in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after purchasing an additional 71 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of GoDaddy by 13.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after purchasing an additional 88 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler boosted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company began coverage on shares of GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the transaction, the chief operating officer now owns 182,632 shares in the company, valued at $35,481,744.96. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the transaction, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,482 shares of company stock valued at $4,903,930 in the last quarter. Insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $179.77 on Friday. The company’s fifty day moving average price is $199.02 and its 200-day moving average price is $181.51. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 27.87 and a beta of 1.15. GoDaddy Inc. has a one year low of $108.38 and a one year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

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

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.