MML Investors Services LLC Has $4.98 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

MML Investors Services LLC lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 3.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 31,782 shares of the technology company’s stock after selling 1,272 shares during the quarter. MML Investors Services LLC’s holdings in GoDaddy were worth $4,983,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the 3rd quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the second quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in GoDaddy in the 2nd quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy in the 2nd quarter valued at approximately $36,000. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,503 shares of company stock valued at $4,102,853. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $208.90 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $29.33 billion, a P/E ratio of 16.14 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $99.90 and a 12 month high of $210.30. The stock has a 50 day moving average of $179.62 and a 200-day moving average of $159.82.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GDDY. 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 lifted their price target 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. Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

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.