Globeflex Capital L P Sells 6,445 Shares of GoDaddy Inc. (NYSE:GDDY)

Globeflex Capital L P trimmed its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 47.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the technology company's stock after selling 6,445 shares during the period. Globeflex Capital L P's holdings in GoDaddy were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Quent Capital LLC boosted its stake in GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after purchasing an additional 53 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock valued at $283,000 after buying an additional 64 shares during the last quarter. New York Life Investment Management LLC grew its holdings in GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock worth $3,708,000 after buying an additional 71 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock valued at $296,000 after buying an additional 73 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock valued at $1,294,000 after acquiring an additional 74 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the sale, the director now owns 23,121 shares in the company, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company's stock, valued at $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,480 shares of company stock valued at $3,816,029. Company insiders own 0.61% of the company's stock.

GoDaddy Price Performance

Shares of GDDY traded up $3.29 during midday trading on Wednesday, hitting $181.54. 1,005,156 shares of the company traded hands, compared to its average volume of 1,333,693. GoDaddy Inc. has a one year low of $118.14 and a one year high of $216.00. The firm has a market cap of $25.66 billion, a P/E ratio of 28.15 and a beta of 1.25. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a 50-day moving average of $192.25 and a 200-day moving average of $182.91.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GDDY shares. B. Riley upped their target price 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. Barclays increased their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Benchmark upped their target price on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Seven research 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, the stock has an average rating of "Moderate Buy" and an average price target of $213.20.

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.