Mackenzie Financial Corp Sells 12,058 Shares of GoDaddy Inc. (NYSE:GDDY)

Mackenzie Financial Corp trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 13.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,408 shares of the technology company’s stock after selling 12,058 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of GoDaddy worth $10,535,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the second quarter worth $28,000. GAMMA Investing LLC increased its stake in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares during the last quarter. ORG Partners LLC bought a new stake in shares of GoDaddy in the 2nd quarter valued at $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy during the 2nd quarter worth approximately $36,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Price Performance

NYSE GDDY opened at $156.77 on Tuesday. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 13.02 and a beta of 1.13. 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 business’s fifty day moving average price is $155.52 and its 200-day moving average price is $140.59. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly 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). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, equities analysts predict that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now owns 362,398 shares of the company’s stock, valued at $53,084,059.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,244 shares of company stock valued at $3,628,171. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Benchmark boosted their target price on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Company 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.