Federated Hermes Inc. Cuts Stock Holdings in GoDaddy Inc. $GDDY

Federated Hermes Inc. lowered its position in GoDaddy Inc. (NYSE:GDDY) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 844,794 shares of the technology company’s stock after selling 64,724 shares during the period. Federated Hermes Inc. owned about 0.61% of GoDaddy worth $115,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management lifted its holdings in shares of GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the period. Bayforest Capital Ltd acquired a new stake in GoDaddy in the second quarter valued at $26,000. NewSquare Capital LLC boosted its position in shares of GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth $31,000. Finally, Mather Group LLC. purchased a new position in shares of GoDaddy in the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $103.36 on Thursday. GoDaddy Inc. has a one year low of $102.14 and a one year high of $216.00. The stock has a market cap of $13.97 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95. The business’s fifty day moving average price is $120.10 and its two-hundred day moving average price is $135.22. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.32 earnings per share. On average, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $133.11, for a total transaction of $66,555.00. Following the transaction, the director owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the sale, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 14,115 shares of company stock valued at $1,809,657. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group lowered their target price on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Evercore ISI lowered their price target on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a report on Friday, October 31st. Royal Bank Of Canada set a $70.00 target price on GoDaddy in a report on Wednesday, January 7th. Finally, Wells Fargo & Company dropped their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.