Parkside Financial Bank & Trust Sells 225 Shares of GoDaddy Inc. (NYSE:GDDY)

Parkside Financial Bank & Trust reduced its position in GoDaddy Inc. (NYSE:GDDY) by 11.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,715 shares of the technology company’s stock after selling 225 shares during the quarter. Parkside Financial Bank & Trust’s holdings in GoDaddy were worth $182,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GDDY. Massmutual Trust Co. FSB ADV lifted its stake in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after acquiring an additional 205 shares in the last quarter. Fifth Third Bancorp purchased a new stake in GoDaddy in the 3rd quarter worth about $43,000. Cary Street Partners Investment Advisory LLC purchased a new stake in GoDaddy in the 3rd quarter worth about $44,000. UMB Bank n.a. purchased a new stake in GoDaddy in the 4th quarter worth about $50,000. Finally, Tobam purchased a new position in GoDaddy during the 4th quarter valued at about $60,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDDY has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Robert W. Baird increased their price objective on GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $124.00 price target on shares of GoDaddy in a research note on Thursday, March 7th. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. increased their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.18.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $123.79 on Thursday. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. GoDaddy Inc. has a 1-year low of $67.43 and a 1-year high of $127.15. The company has a market capitalization of $17.64 billion, a PE ratio of 12.92 and a beta of 1.12. The business has a fifty day moving average price of $118.20 and a 200-day moving average price of $104.29.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. As a group, equities analysts expect that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the sale, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the transaction, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The disclosure for this sale can be found here. Insiders have sold 121,234 shares of company stock valued at $13,534,946 over the last ninety days. Insiders own 0.54% of the company’s stock.

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.