Federated Hermes Inc. Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Federated Hermes Inc. lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 1,490,780 shares of the technology company’s stock after selling 36,500 shares during the quarter. GoDaddy makes up about 0.6% of Federated Hermes Inc.’s investment portfolio, making the stock its 28th biggest position. Federated Hermes Inc.’s holdings in GoDaddy were worth $294,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GDDY. Anchor Investment Management LLC bought a new position in shares of GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the 4th quarter valued at $43,000. Rakuten Securities Inc. raised its holdings in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of GoDaddy in the 4th quarter worth about $49,000. Finally, OFI Invest Asset Management bought a new stake in shares of GoDaddy during the 4th quarter valued at about $52,000. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GDDY. B. Riley increased their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Barclays boosted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Trading Down 7.5 %

Shares of NYSE GDDY opened at $164.34 on Friday. The firm’s 50 day moving average price is $186.96 and its 200-day moving average price is $185.04. GoDaddy Inc. has a 52-week low of $119.76 and a 52-week high of $216.00. 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 company has a market cap of $23.23 billion, a PE ratio of 25.48 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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 expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares in the company, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock valued at $3,643,589 over the last ninety days. Insiders own 0.61% of the company’s stock.

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.