Commerce Bank Has $7.88 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Commerce Bank lessened its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 12.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,231 shares of the technology company's stock after selling 7,089 shares during the quarter. Commerce Bank's holdings in GoDaddy were worth $7,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock valued at $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of GoDaddy during the third quarter valued at about $1,132,000. Plato Investment Management Ltd grew its position in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company's stock valued at $769,000 after acquiring an additional 6,227 shares during the period. Swedbank AB boosted its holdings in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company's stock worth $21,425,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock worth $6,907,000 after buying an additional 9,631 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a "strong-buy" rating in a research report on Friday, August 2nd. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Barclays upped their price objective on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Finally, StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $173.31.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares of the company's stock, valued at $16,686,868.50. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,845 shares of company stock worth $4,803,380. Insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GDDY stock traded up $2.73 during midday trading on Friday, reaching $195.74. The company had a trading volume of 682,818 shares, compared to its average volume of 1,453,065. The company has a market capitalization of $27.48 billion, a price-to-earnings ratio of 14.93 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $94.50 and a 1-year high of $195.99. The stock has a 50 day moving average price of $165.74 and a 200-day moving average price of $152.83.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

GoDaddy Company 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.