Crossmark Global Holdings Inc. Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Crossmark Global Holdings Inc. trimmed its holdings in GoDaddy Inc. (NYSE:GDDY) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,948 shares of the technology company’s stock after selling 5,106 shares during the period. Crossmark Global Holdings Inc.’s holdings in GoDaddy were worth $7,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of GoDaddy by 0.4% in the third 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 purchasing an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in GoDaddy by 4.0% during the 3rd 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 last quarter. MassMutual Private Wealth & Trust FSB increased its position in GoDaddy by 13.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after buying an additional 88 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after acquiring an additional 99 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in shares of GoDaddy by 1.3% in the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 107 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock valued at $4,759,553 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Benchmark boosted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, B. Riley lifted their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $198.07.

GoDaddy Trading Up 2.4 %

Shares of NYSE GDDY opened at $205.66 on Wednesday. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 15.89 and a beta of 1.15. The stock’s 50 day simple moving average is $199.16 and its 200 day simple moving average is $171.78. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $106.42 and a 12-month high of $211.11.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Equities research analysts expect that GoDaddy Inc. will post 4.96 EPS 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.