Chevy Chase Trust Holdings LLC Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Chevy Chase Trust Holdings LLC lowered its position in GoDaddy Inc. (NYSE:GDDY) by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 73,786 shares of the technology company’s stock after selling 1,913 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of GoDaddy worth $14,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the 3rd quarter valued at $27,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the third quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy during the 4th quarter valued at $43,000. Huntington National Bank lifted its holdings in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new position in GoDaddy in the 3rd quarter worth about $49,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

GDDY stock opened at $182.58 on Monday. The firm has a market cap of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. The firm’s fifty day moving average is $204.20 and its 200 day moving average is $180.30. GoDaddy Inc. has a 52 week low of $108.02 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. Research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. Robert W. Baird upped their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Citigroup raised their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Benchmark upped their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,482 shares of company stock worth $4,709,650 in the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Company 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.