Commerce Bank Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Commerce Bank decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 12.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,231 shares of the technology company’s stock after selling 7,089 shares during the period. Commerce Bank’s holdings in GoDaddy were worth $7,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy during the third quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the second quarter worth $28,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the third quarter valued at $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the second quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock valued at $4,803,380 in the last quarter. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GDDY shares. Benchmark raised their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have given 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 an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Trading Up 1.4 %

Shares of GDDY stock opened at $192.85 on Friday. The firm has a market capitalization of $27.07 billion, a PE ratio of 14.90 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day simple moving average of $164.93 and a two-hundred day simple moving average of $152.55. GoDaddy Inc. has a 52-week low of $94.50 and a 52-week high of $193.26.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

About GoDaddy

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.