Assetmark Inc. Sells 8,831 Shares of GoDaddy Inc. $GDDY

Assetmark Inc. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 78.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,496 shares of the technology company’s stock after selling 8,831 shares during the period. Assetmark Inc.’s holdings in GoDaddy were worth $310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Transcend Capital Advisors LLC bought a new position in shares of GoDaddy during the fourth quarter worth $279,000. Choreo LLC bought a new position in shares of GoDaddy during the fourth quarter worth $255,000. Robeco Institutional Asset Management B.V. boosted its position in shares of GoDaddy by 154.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 135,142 shares of the technology company’s stock worth $16,768,000 after purchasing an additional 81,993 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of GoDaddy by 54.9% during the fourth quarter. Apollon Wealth Management LLC now owns 2,389 shares of the technology company’s stock worth $296,000 after purchasing an additional 847 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in shares of GoDaddy by 0.5% during the fourth quarter. Douglas Lane & Associates LLC now owns 671,574 shares of the technology company’s stock worth $83,329,000 after purchasing an additional 3,102 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the transaction, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director owned 11,414 shares of the company’s stock, valued at $991,420.04. The trade was a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 61,918 shares of company stock worth $5,500,469. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GDDY shares. Benchmark reduced their price target on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Barclays reduced their price target on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Citigroup reduced their price target on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.57.

GoDaddy Stock Down 3.9%

GoDaddy stock opened at $84.92 on Friday. The stock has a market capitalization of $11.32 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.78 and a beta of 0.98. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $193.55. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The company has a 50 day moving average of $85.23 and a 200-day moving average of $108.72.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that GoDaddy Inc. will post 7.3 EPS for the current fiscal year.

About GoDaddy

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.