GoDaddy Inc. (NYSE:GDDY) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,127 shares of the technology company’s stock after selling 1,464 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in GoDaddy were worth $3,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its holdings in shares of GoDaddy by 176.6% during the first quarter. Rockefeller Capital Management L.P. now owns 390 shares of the technology company’s stock valued at $30,000 after acquiring an additional 249 shares during the last quarter. Barrett Asset Management LLC acquired a new position in shares of GoDaddy during the first quarter valued at approximately $55,000. Sowell Financial Services LLC raised its holdings in shares of GoDaddy by 737.7% during the first quarter. Sowell Financial Services LLC now owns 1,022 shares of the technology company’s stock valued at $83,000 after acquiring an additional 900 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of GoDaddy by 54.8% during the second quarter. Exchange Traded Concepts LLC now owns 1,214 shares of the technology company’s stock valued at $106,000 after acquiring an additional 430 shares during the last quarter. Finally, Tradition Wealth Management LLC acquired a new position in shares of GoDaddy during the second quarter valued at approximately $197,000. 95.68% of the stock is owned by institutional investors.

Shares of NYSE GDDY opened at $72.41 on Friday. The stock has a market cap of $12.25 billion, a P/E ratio of 64.65, a PEG ratio of 1.98 and a beta of 0.98. GoDaddy Inc. has a 12-month low of $68.66 and a 12-month high of $93.75. The business’s fifty day simple moving average is $77.24 and its 200-day simple moving average is $80.33.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, August 4th. The technology company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $931.30 million during the quarter, compared to analyst estimates of $920.26 million. GoDaddy had a net margin of 5.43% and a negative return on equity of 277.41%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($4.06) earnings per share. As a group, sell-side analysts expect that GoDaddy Inc. will post 1.09 earnings per share for the current fiscal year.

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 2,980 shares of the firm’s stock in a transaction on Friday, July 2nd. The stock was sold at an average price of $88.69, for a total value of $264,296.20. Following the sale, the chief executive officer now directly owns 156,094 shares in the company, valued at $13,843,976.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by company insiders.

Several equities research analysts recently commented on GDDY shares. Piper Sandler cut GoDaddy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $100.00 to $85.00 in a report on Thursday, August 5th. Rosenblatt Securities cut GoDaddy from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a report on Thursday, August 5th. Wedbush increased their price target on GoDaddy from $92.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. Barclays increased their price target on GoDaddy from $107.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, June 28th. Finally, JMP Securities cut their price target on GoDaddy from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $97.92.

GoDaddy Profile

GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons on January 1997 and is headquartered in Scottsdale, AZ.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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