Profund Advisors LLC Sells 6,119 Shares of GoDaddy Inc. (NYSE:GDDY)

Profund Advisors LLC lowered its position in GoDaddy Inc. (NYSE:GDDY) by 33.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,332 shares of the technology company’s stock after selling 6,119 shares during the period. Profund Advisors LLC’s holdings in GoDaddy were worth $1,723,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of GoDaddy by 297.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 140,302 shares of the technology company’s stock valued at $19,601,000 after buying an additional 105,012 shares in the last quarter. Sei Investments Co. increased its holdings in GoDaddy by 11.4% during the 2nd quarter. Sei Investments Co. now owns 196,134 shares of the technology company’s stock worth $27,403,000 after purchasing an additional 20,081 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in GoDaddy by 2.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 33,629 shares of the technology company’s stock worth $4,698,000 after purchasing an additional 681 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in GoDaddy during the 2nd quarter worth about $9,430,000. Finally, Intech Investment Management LLC increased its holdings in GoDaddy by 156.6% during the 2nd quarter. Intech Investment Management LLC now owns 42,316 shares of the technology company’s stock worth $5,912,000 after purchasing an additional 25,827 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 0.3 %

Shares of NYSE:GDDY opened at $160.55 on Monday. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The company has a market capitalization of $22.91 billion, a P/E ratio of 13.33 and a beta of 1.13. The company has a 50-day simple moving average of $154.36 and a 200 day simple moving average of $139.11. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays increased their target price on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Benchmark increased their target price on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.08.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares in the company, valued at $26,928,027.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,744 shares of company stock worth $4,816,386. 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.