Bank of New York Mellon Corp Has $105.77 Million Stock Holdings in GoDaddy Inc. $GDDY

Bank of New York Mellon Corp lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 772,977 shares of the technology company’s stock after selling 71,131 shares during the quarter. Bank of New York Mellon Corp’s holdings in GoDaddy were worth $105,766,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in GoDaddy in the second quarter valued at about $341,588,000. Qube Research & Technologies Ltd lifted its holdings in shares of GoDaddy by 2,289.5% in the second quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock worth $157,305,000 after acquiring an additional 837,065 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of GoDaddy by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock valued at $3,378,310,000 after purchasing an additional 627,923 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of GoDaddy during the 2nd quarter valued at approximately $81,153,000. Finally, JPMorgan Chase & Co. increased its position in GoDaddy by 16.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,843,056 shares of the technology company’s stock worth $511,921,000 after purchasing an additional 403,151 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, the chief financial officer owned 66,816 shares in the company, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the sale, the chief executive officer owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,615 shares of company stock worth $1,743,102. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GDDY. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 31st. B. Riley dropped their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, UBS Group reduced their price target on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

GoDaddy Trading Up 1.1%

Shares of GDDY stock opened at $100.38 on Monday. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.91 and a beta of 0.94. The stock has a 50-day moving average of $119.07 and a 200-day moving average of $134.02. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a 1-year low of $98.28 and a 1-year high of $215.80.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The company 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 firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 earnings per share. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current 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.