Corsair Capital Management L.P. Trims Position in GoDaddy Inc. $GDDY

Key Points

• Corsair Capital Management L.P. reduced its position in GoDaddy Inc. by 3.8%, now holding 184,703 shares, which comprises approximately 8.5% of its investment portfolio.
• GoDaddy's stock is currently priced at $147.94, with a one-year range of $132.51 to $216.00, and it has a market capitalization of $20.48 billion.
• Several large investors have increased their stakes in GoDaddy, with Caisse DE Depot ET Placement DU Quebec acquiring an additional 88.2% in the fourth quarter.

Corsair Capital Management L.P. trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,703 shares of the technology company's stock after selling 7,207 shares during the quarter. GoDaddy comprises about 8.5% of Corsair Capital Management L.P.'s investment portfolio, making the stock its 4th biggest position. Corsair Capital Management L.P. owned about 0.13% of GoDaddy worth $33,272,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GDDY. Northern Trust Corp increased its holdings in shares of GoDaddy by 8.8% in the fourth quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock worth $282,275,000 after purchasing an additional 115,341 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in GoDaddy by 4.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock worth $344,000 after acquiring an additional 71 shares during the last quarter. Freestone Grove Partners LP bought a new stake in GoDaddy during the fourth quarter worth approximately $1,216,000. Caisse DE Depot ET Placement DU Quebec increased its stake in GoDaddy by 88.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock worth $213,630,000 after acquiring an additional 507,374 shares during the last quarter. Finally, Westbourne Investments Inc. bought a new stake in GoDaddy during the fourth quarter worth approximately $714,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Up 0.1%

Shares of NYSE:GDDY opened at $147.94 on Friday. GoDaddy Inc. has a 1 year low of $132.51 and a 1 year high of $216.00. The business has a 50 day simple moving average of $161.82 and a two-hundred day simple moving average of $173.50. The firm has a market capitalization of $20.48 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GDDY shares. Wells Fargo & Company reduced their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reduced their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Raymond James Financial reduced their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $160.47, for a total value of $80,235.00. Following the completion of the sale, the director owned 21,457 shares in the company, valued at approximately $3,443,204.79. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leah Sweet sold 650 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total value of $91,741.00. Following the completion of the sale, the director owned 12,064 shares of the company's stock, valued at $1,702,712.96. The trade was a 5.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,881 shares of company stock valued at $5,869,390 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

GoDaddy 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.

Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.