GoDaddy Inc. (NYSE:GDDY) Shares Sold by Cwm LLC

CWM LLC lowered its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 70.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,254 shares of the technology company's stock after selling 17,422 shares during the quarter. CWM LLC's holdings in GoDaddy were worth $1,307,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new stake in GoDaddy in the first quarter worth approximately $291,000. DAVENPORT & Co LLC raised its stake in GoDaddy by 7.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after purchasing an additional 141 shares during the period. LPL Financial LLC increased its stake in GoDaddy by 22.9% in the 4th quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock worth $13,048,000 after acquiring an additional 12,328 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in GoDaddy by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock valued at $1,060,000 after acquiring an additional 699 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in GoDaddy by 113.6% during the first quarter. Blue Trust Inc. now owns 645 shares of the technology company's stock valued at $116,000 after purchasing an additional 343 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GDDY. Jefferies Financial Group lowered their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Royal Bank Of Canada reissued an "outperform" rating and set a $225.00 target price on shares of GoDaddy in a research note on Monday, June 23rd. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Citigroup decreased their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Barclays reduced their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $214.86.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 37,500 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the transaction, the chief financial officer owned 77,250 shares in the company, valued at $13,978,387.50. This trade represents a 32.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer directly owned 21,198 shares in the company, valued at $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,757 shares of company stock worth $12,243,920 over the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

Shares of GDDY traded up $0.99 during trading hours on Tuesday, hitting $169.47. The company's stock had a trading volume of 1,523,992 shares, compared to its average volume of 1,344,511. The business has a 50 day simple moving average of $178.59 and a two-hundred day simple moving average of $183.39. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 32.59 and a beta of 1.05. GoDaddy Inc. has a 52-week low of $140.11 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $2.76 earnings per share. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.