Amalgamated Bank Sells 649 Shares of GoDaddy Inc. (NYSE:GDDY)

Amalgamated Bank trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,946 shares of the technology company’s stock after selling 649 shares during the quarter. Amalgamated Bank’s holdings in GoDaddy were worth $5,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in GoDaddy by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company’s stock worth $187,441,000 after acquiring an additional 26,341 shares in the last quarter. BankPlus Trust Department bought a new position in GoDaddy in the fourth quarter valued at approximately $392,000. Rothschild Investment LLC boosted its holdings in shares of GoDaddy by 85.8% in the fourth quarter. Rothschild Investment LLC now owns 11,418 shares of the technology company’s stock valued at $2,254,000 after buying an additional 5,274 shares during the period. World Equity Group Inc. bought a new stake in shares of GoDaddy during the fourth quarter worth $220,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of GoDaddy by 6.5% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,644 shares of the technology company’s stock worth $13,351,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 2,678 shares of GoDaddy stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the completion of the sale, the chief financial officer now owns 89,800 shares of the company’s stock, valued at approximately $17,658,272. This trade represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,482 shares of company stock valued at $4,903,930. Company insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

NYSE:GDDY opened at $174.70 on Friday. GoDaddy Inc. has a 12-month low of $108.38 and a 12-month high of $216.00. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 27.08 and a beta of 1.15. The stock’s 50 day moving average price is $199.58 and its two-hundred day moving average price is $181.55. The company has a quick ratio of 0.56, a current ratio of 0.72 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 the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Robert W. Baird raised their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley boosted their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Seven 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.20.

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.