Assetmark Inc. Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

Assetmark Inc. trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,957 shares of the technology company’s stock after selling 10,339 shares during the quarter. Assetmark Inc.’s holdings in GoDaddy were worth $8,084,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GDDY. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter valued at $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy in the 4th quarter valued at $43,000. Friedenthal Financial purchased a new position in shares of GoDaddy during the 4th quarter worth $49,000. Finally, Huntington National Bank increased its position in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. B. Riley boosted their target price on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Trading Up 2.0 %

Shares of NYSE:GDDY opened at $175.52 on Friday. The company has a market cap of $24.81 billion, a PE ratio of 27.21 and a beta of 1.15. The company’s 50 day moving average is $195.50 and its two-hundred day moving average is $182.12. GoDaddy Inc. has a 52 week low of $112.49 and a 52 week high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

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

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 1,554 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now owns 21,505 shares in the company, valued at $4,384,869.50. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the sale, the chief executive officer now owns 505,649 shares in the company, valued at $91,350,548.34. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,034 shares of company stock valued at $4,166,030 over the last three months. 0.61% of the stock is owned by corporate insiders.

About GoDaddy

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.