Hsbc Holdings PLC Trims Stock Holdings in GoDaddy Inc. $GDDY

Hsbc Holdings PLC lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 20.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 633,127 shares of the technology company’s stock after selling 162,023 shares during the quarter. Hsbc Holdings PLC’s holdings in GoDaddy were worth $78,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its holdings in GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after purchasing an additional 86 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in GoDaddy by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock worth $1,686,000 after buying an additional 104 shares during the period. Main Street Financial Solutions LLC boosted its holdings in GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after buying an additional 119 shares during the period. Lido Advisors LLC increased its stake in GoDaddy by 6.2% in the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock worth $283,000 after buying an additional 121 shares in the last quarter. Finally, Martin Capital Advisors LLP raised its holdings in GoDaddy by 1.5% during the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after acquiring an additional 130 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the sale, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total value of $290,220.00. Following the transaction, the chief financial officer owned 105,728 shares of the company’s stock, valued at $8,766,965.76. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,751 shares of company stock valued at $1,480,228 over the last 90 days. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Barclays cut their price objective on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Cantor Fitzgerald reduced their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Piper Sandler initiated coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.43.

GoDaddy Trading Down 2.6%

Shares of GDDY stock opened at $75.03 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 0.70 and a beta of 0.90. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $181.49. The stock’s 50-day moving average price is $84.85 and its 200-day moving average price is $95.65.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 earnings per share. Equities research analysts predict that GoDaddy Inc. will post 7.14 EPS for the current fiscal year.

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.