Crescent Park Management L.P. Sells 22,642 Shares of GoDaddy Inc. (NYSE:GDDY)

Crescent Park Management L.P. cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 24.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,875 shares of the technology company's stock after selling 22,642 shares during the quarter. GoDaddy comprises 5.2% of Crescent Park Management L.P.'s investment portfolio, making the stock its 8th biggest position. Crescent Park Management L.P.'s holdings in GoDaddy were worth $13,594,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GDDY. WCM Investment Management LLC boosted its position in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. Norges Bank acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $356,038,000. Congress Asset Management Co. purchased a new stake in GoDaddy in the fourth quarter valued at $111,923,000. Amundi lifted its position in GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock valued at $183,710,000 after buying an additional 426,501 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after buying an additional 349,358 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

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GoDaddy Stock Performance

Shares of GDDY traded down $3.56 during mid-day trading on Monday, hitting $160.86. 985,298 shares of the company's stock were exchanged, compared to its average volume of 1,495,457. The firm has a market capitalization of $22.74 billion, a P/E ratio of 24.90 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. The business's 50 day moving average is $186.96 and its two-hundred day moving average is $185.26. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price objective for the company. Piper Sandler upped their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Finally, StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $212.20.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares of the company's stock, valued at $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,546,970. 0.61% of the stock is owned by company 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.