Voya Investment Management LLC Sells 872,433 Shares of GoDaddy Inc. $GDDY

by · The Cerbat Gem

Voya Investment Management LLC cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 84.0% in the third quarter, Holdings Channel reports. The institutional investor owned 165,858 shares of the technology company’s stock after selling 872,433 shares during the quarter. Voya Investment Management LLC’s holdings in GoDaddy were worth $22,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of GoDaddy by 20.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock worth $17,888,000 after purchasing an additional 17,200 shares during the period. Nomura Asset Management Co. Ltd. grew its position in GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after buying an additional 10,631 shares in the last quarter. GDS Wealth Management increased its stake in GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after acquiring an additional 8,388 shares during the period. Quantbot Technologies LP acquired a new position in GoDaddy in the 2nd quarter valued at approximately $15,659,000. Finally, Neo Ivy Capital Management acquired a new position in GoDaddy in the 2nd quarter valued at approximately $470,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 0.5%

Shares of NYSE:GDDY opened at $127.35 on Monday. The company’s fifty day moving average is $129.02 and its 200-day moving average is $147.22. 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 Inc. has a 52 week low of $121.94 and a 52 week high of $216.00. The company has a market capitalization of $17.21 billion, a PE ratio of 21.99, a P/E/G ratio of 1.42 and a beta of 0.95.

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

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares in the company, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 14,615 shares of company stock worth $1,877,942. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on GDDY. B. Riley decreased their price objective on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Citigroup decreased their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Friday, October 31st. Evercore ISI dropped their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, October 31st. Finally, Wells Fargo & Company decreased their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.14.

View Our Latest Report on GDDY

GoDaddy Company Profile

(Free Report)

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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