Huntington National Bank Sells 94 Shares of GoDaddy Inc. (NYSE:GDDY)

Huntington National Bank reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 30.6% in the 4th quarter, HoldingsChannel reports. The firm owned 213 shares of the technology company’s stock after selling 94 shares during the period. Huntington National Bank’s holdings in GoDaddy were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter valued at $43,000. Rakuten Securities Inc. increased its stake in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial bought a new position in shares of GoDaddy in the fourth quarter valued at about $49,000. Finally, OFI Invest Asset Management acquired a new position in GoDaddy during the 4th quarter worth about $52,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. This trade 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 hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s 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 completion of the sale, the chief financial officer now owns 115,375 shares in the company, valued at $20,750,193.75. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $3,546,970. Company insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY stock opened at $162.39 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00. The firm has a fifty day moving average of $186.12 and a 200-day moving average of $185.27. The firm has a market capitalization of $22.95 billion, a price-to-earnings ratio of 25.18 and a beta of 1.19.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several research reports. Raymond James raised their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Benchmark upped their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley boosted their target price on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group decreased their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday. Finally, Piper Sandler upped their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.20.

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.