GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 38.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,643 shares of the technology company's stock after acquiring an additional 5,205 shares during the quarter. Tidal Investments LLC's holdings in GoDaddy were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy during the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the second quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy in the third quarter worth $30,000. Anchor Investment Management LLC bought a new stake in GoDaddy in the third quarter valued at $31,000. Finally, International Assets Investment Management LLC purchased a new position in GoDaddy during the 2nd quarter valued at $36,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GDDY shares. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. B. Riley increased their target price on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price target on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Benchmark raised their price objective on GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $181.57.

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now owns 93,102 shares of the company's stock, valued at $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares of the company's stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,503 shares of company stock worth $3,950,683 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

GDDY traded up $2.25 during midday trading on Monday, hitting $209.03. 907,447 shares of the company traded hands, compared to its average volume of 1,458,022. The company's 50-day moving average is $180.63 and its 200 day moving average is $160.59. GoDaddy Inc. has a 52 week low of $99.90 and a 52 week high of $211.11. The firm has a market capitalization of $29.35 billion, a PE ratio of 16.15 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. On average, research analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

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.