Commerce Bank Has $7.88 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Commerce Bank reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,231 shares of the technology company’s stock after selling 7,089 shares during the quarter. Commerce Bank’s holdings in GoDaddy were worth $7,875,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after buying an additional 73 shares during the period. Whittier Trust Co. increased its holdings in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after acquiring an additional 99 shares in the last quarter. Finally, Equitable Trust Co. increased its stake in GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GDDY shares. Piper Sandler upped their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Finally, Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.31.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,845 shares of company stock valued at $4,803,380 over the last three months. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 1.4 %

Shares of NYSE:GDDY opened at $192.85 on Friday. The business’s 50-day moving average is $164.93 and its 200-day moving average is $152.55. GoDaddy Inc. has a 1 year low of $94.50 and a 1 year high of $193.26. The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 14.90 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $0.89 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

About GoDaddy

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.