Toronto Dominion Bank Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Toronto Dominion Bank reduced its position in GoDaddy Inc. (NYSE:GDDY) by 36.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,441 shares of the technology company’s stock after selling 27,439 shares during the quarter. Toronto Dominion Bank’s holdings in GoDaddy were worth $9,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Quent Capital LLC raised its stake in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after purchasing an additional 53 shares during the period. Advisors Capital Management LLC raised its stake in shares of GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after acquiring an additional 55 shares in the last quarter. BNP Paribas lifted its stake in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after purchasing an additional 59 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after acquiring an additional 64 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GDDY. Wells Fargo & Company began coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their target price on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Piper Sandler increased their price objective on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.86.

GoDaddy Stock Performance

NYSE:GDDY opened at $188.26 on Wednesday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The stock has a 50-day simple moving average of $179.11 and a two-hundred day simple moving average of $189.30. The firm has a market capitalization of $26.82 billion, a PE ratio of 29.19 and a beta of 1.13. GoDaddy Inc. has a 52-week low of $135.73 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 earnings per share. Analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the transaction, the chief executive officer now owns 505,649 shares of the company’s stock, valued at $91,350,548.34. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This trade represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,526 shares of company stock valued at $10,243,716 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Profile

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.