AlphaQuest LLC Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

AlphaQuest LLC cut its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 97.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174 shares of the technology company's stock after selling 5,728 shares during the quarter. AlphaQuest LLC's holdings in GoDaddy were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. WCM Investment Management LLC boosted its holdings in GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. purchased a new position in shares of GoDaddy in the 4th quarter valued at approximately $111,923,000. Amundi boosted its stake in GoDaddy by 84.4% in the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after purchasing an additional 426,501 shares in the last quarter. AustralianSuper Pty Ltd grew its position in GoDaddy by 3,836.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock worth $70,750,000 after purchasing an additional 349,358 shares during the last quarter. Finally, FMR LLC increased its stake in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after purchasing an additional 274,014 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares of the company's stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now owns 84,300 shares of the company's stock, valued at approximately $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. Insiders have sold 19,480 shares of company stock worth $3,816,029 in the last quarter. Corporate insiders own 0.61% of the company's stock.

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GoDaddy Stock Performance

GDDY traded up $0.50 on Tuesday, reaching $184.00. The stock had a trading volume of 1,787,331 shares, compared to its average volume of 1,341,259. The business's 50-day moving average price is $191.17 and its two-hundred day moving average price is $183.53. The company has a market cap of $26.01 billion, a P/E ratio of 28.53 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $118.39 and a 12-month high of $216.00. 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 released its quarterly 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GDDY. Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Piper Sandler lifted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, 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 report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.