GoDaddy Inc. (NYSE:GDDY) Shares Sold by Commerce Bank

Commerce Bank decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,911 shares of the technology company's stock after selling 9,320 shares during the quarter. Commerce Bank's holdings in GoDaddy were worth $8,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the fourth quarter worth approximately $43,000. Rakuten Securities Inc. raised its holdings in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of GoDaddy during the 4th quarter worth approximately $49,000. Finally, OFI Invest Asset Management acquired a new position in shares of GoDaddy in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

NYSE GDDY traded up $8.10 on Wednesday, hitting $178.29. 1,498,343 shares of the company's stock were exchanged, compared to its average volume of 1,469,034. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm's 50-day moving average price is $175.43 and its two-hundred day moving average price is $186.10. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of 27.64 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $120.59 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. On average, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now directly 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 document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares in the company, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,518,150 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GDDY shares. Piper Sandler upped their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Benchmark raised their price target on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. B. Riley boosted their price objective on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, 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 research report on Friday, February 14th. Eight research 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $210.73.

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.