Federated Hermes Inc. Lowers Stock Holdings in GoDaddy Inc. $GDDY

Federated Hermes Inc. reduced its position in GoDaddy Inc. (NYSE:GDDY) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909,518 shares of the technology company’s stock after selling 88,140 shares during the quarter. Federated Hermes Inc. owned approximately 0.64% of GoDaddy worth $163,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GDDY. PNC Financial Services Group Inc. raised its stake in GoDaddy by 27.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,281 shares of the technology company’s stock valued at $1,672,000 after buying an additional 1,986 shares in the last quarter. Vanguard Group Inc. boosted its stake in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock worth $3,266,697,000 after purchasing an additional 462,807 shares during the period. ASR Vermogensbeheer N.V. acquired a new stake in shares of GoDaddy during the first quarter worth about $1,926,000. Charles Schwab Investment Management Inc. lifted its position in GoDaddy by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 965,378 shares of the technology company’s stock worth $173,903,000 after acquiring an additional 43,745 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of GoDaddy by 17.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,154 shares of the technology company’s stock worth $46,504,000 after purchasing an additional 38,039 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GoDaddy stock opened at $128.43 on Friday. The company has a market cap of $17.36 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The business has a fifty day moving average of $130.85 and a two-hundred day moving average of $151.37. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $1.32 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. JPMorgan Chase & Co. reduced their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Evercore ISI lowered their target price on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a report on Friday, October 31st. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.14.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total transaction of $66,555.00. Following the sale, the director owned 19,957 shares of the company’s stock, valued at $2,656,476.27. The trade was a 2.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Phontip Palitwanon sold 969 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $123,973.86. Following the completion of the transaction, the chief accounting officer directly owned 19,452 shares of the company’s stock, valued at $2,488,688.88. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,218 shares of company stock valued at $2,615,781 in the last ninety days. Company insiders own 0.70% 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.