GoDaddy Inc. (NYSE:GDDY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 79.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,155 shares of the technology company's stock after selling 327,849 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of GoDaddy worth $13,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Argent Capital Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $2,529,000. International Assets Investment Management LLC lifted its position in GoDaddy by 16,719.2% during the third quarter. International Assets Investment Management LLC now owns 43,898 shares of the technology company's stock worth $68,820,000 after buying an additional 43,637 shares in the last quarter. Axecap Investments LLC purchased a new position in GoDaddy during the third quarter worth approximately $1,981,000. Private Advisor Group LLC acquired a new position in GoDaddy during the third quarter worth $343,000. Finally, Signaturefd LLC grew its holdings in GoDaddy by 13.7% in the 3rd quarter. Signaturefd LLC now owns 2,819 shares of the technology company's stock valued at $442,000 after buying an additional 339 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GDDY. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Benchmark reiterated a "buy" rating and issued a $186.00 target price on shares of GoDaddy in a report on Tuesday, October 15th. Robert W. Baird raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 7th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $166.54.

GoDaddy Stock Performance

NYSE GDDY opened at $160.53 on Monday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market cap of $22.91 billion, a P/E ratio of 13.33 and a beta of 1.12. The stock has a 50-day moving average of $159.26 and a two-hundred day moving average of $145.92. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned $0.63 earnings per share. GoDaddy's quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that GoDaddy Inc. will post 5.07 EPS for the current year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,744 shares of company stock worth $5,114,931. Corporate insiders own 0.61% of the company's stock.

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.