New Century Financial Group LLC Sells 207 Shares of GoDaddy Inc. (NYSE:GDDY)

New Century Financial Group LLC reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,337 shares of the technology company’s stock after selling 207 shares during the quarter. New Century Financial Group LLC’s holdings in GoDaddy were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GDDY. Corient Private Wealth LLC lifted its stake in GoDaddy by 70.1% during the 4th quarter. Corient Private Wealth LLC now owns 5,190 shares of the technology company’s stock valued at $551,000 after acquiring an additional 2,138 shares during the period. Stifel Financial Corp raised its holdings in shares of GoDaddy by 6.0% during the fourth quarter. Stifel Financial Corp now owns 62,926 shares of the technology company’s stock valued at $6,680,000 after purchasing an additional 3,545 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in GoDaddy during the fourth quarter valued at approximately $228,000. Alberta Investment Management Corp purchased a new stake in GoDaddy in the fourth quarter worth approximately $244,000. Finally, Carmignac Gestion bought a new stake in GoDaddy in the 4th quarter worth approximately $3,139,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The sale was disclosed in a 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 value of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The disclosure for this sale can be found here. Insiders sold a total of 23,244 shares of company stock valued at $3,628,171 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several research analyst reports. Robert W. Baird increased their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Benchmark upped their price target 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. Raymond James raised their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Stock Performance

GDDY opened at $153.16 on Wednesday. The company has a 50 day simple moving average of $155.72 and a two-hundred day simple moving average of $140.87. 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 firm has a market cap of $21.85 billion, a P/E ratio of 12.72 and a beta of 1.13. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65.

GoDaddy (NYSE:GDDY) last issued its 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. Equities analysts forecast that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

GoDaddy 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.