Federated Hermes Inc. Sells 36,500 Shares of GoDaddy Inc. (NYSE:GDDY)

Federated Hermes Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,490,780 shares of the technology company's stock after selling 36,500 shares during the period. GoDaddy comprises about 0.6% of Federated Hermes Inc.'s holdings, making the stock its 28th largest position. Federated Hermes Inc. owned 1.06% of GoDaddy worth $294,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilltop Holdings Inc. acquired a new stake in GoDaddy in the third quarter valued at about $357,000. Redwood Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter valued at about $465,000. Royal London Asset Management Ltd. lifted its stake in shares of GoDaddy by 4.1% during the third quarter. Royal London Asset Management Ltd. now owns 58,067 shares of the technology company's stock valued at $9,104,000 after buying an additional 2,270 shares during the period. Quantinno Capital Management LP boosted its stake in GoDaddy by 19.6% in the 3rd quarter. Quantinno Capital Management LP now owns 13,803 shares of the technology company's stock worth $2,164,000 after buying an additional 2,260 shares during the last quarter. Finally, State Street Corp grew its holdings in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after purchasing an additional 147,105 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

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GoDaddy Stock Up 1.2 %

NYSE GDDY traded up $2.02 during trading hours on Friday, hitting $171.02. 1,081,940 shares of the company traded hands, compared to its average volume of 1,450,091. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The business's 50-day moving average is $181.63 and its 200-day moving average is $185.24. GoDaddy Inc. has a twelve month low of $119.76 and a twelve month high of $216.00. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 26.47 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent research reports. Morgan Stanley increased 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. UBS Group upped their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target for the company. Raymond James raised their price target on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Finally, Benchmark boosted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $212.20.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company's stock, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $89,925.00. Following the completion of the sale, the director now directly owns 21,621 shares in the company, valued at approximately $3,888,536.85. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,546,970 in the last quarter. 0.61% of the stock is owned by insiders.

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.