Brown Advisory Inc. Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

Brown Advisory Inc. cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,695 shares of the technology company’s stock after selling 176 shares during the quarter. Brown Advisory Inc.’s holdings in GoDaddy were worth $305,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Advisors Capital Management LLC boosted its holdings in GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock valued at $1,223,000 after purchasing an additional 55 shares during the last quarter. BNP Paribas lifted its holdings in GoDaddy by 2.9% during the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after buying an additional 59 shares during the last quarter. City Holding Co. lifted its holdings in GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after buying an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in GoDaddy by 0.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company’s stock worth $1,435,000 after buying an additional 67 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in GoDaddy by 4.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock worth $344,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $179.68, for a total transaction of $89,840.00. Following the completion of the sale, the director owned 21,957 shares of the company’s stock, valued at approximately $3,945,233.76. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 16th. The shares were sold at an average price of $175.96, for a total value of $175,960.00. Following the sale, the chief operating officer directly owned 254,949 shares of the company’s stock, valued at approximately $44,860,826.04. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,757 shares of company stock valued at $12,074,330 over the last quarter. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $167.86 on Wednesday. The stock has a market cap of $23.92 billion, a PE ratio of 32.28 and a beta of 1.05. The business has a fifty day simple moving average of $179.84 and a 200-day simple moving average of $184.33. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a 12 month low of $140.11 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $2.76 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GDDY. Citigroup cut their price target on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $225.00 target price on shares of GoDaddy in a research report on Monday, June 23rd. Piper Sandler raised their target price on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $214.86.

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.