Lifeworks Advisors LLC Grows Stock Position in GoDaddy Inc. (NYSE:GDDY)

Lifeworks Advisors LLC boosted its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,754 shares of the technology company's stock after acquiring an additional 3,571 shares during the period. Lifeworks Advisors LLC's holdings in GoDaddy were worth $4,639,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GDDY. HighPoint Advisor Group LLC increased its holdings in GoDaddy by 15.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock valued at $402,000 after purchasing an additional 293 shares during the period. Sowell Financial Services LLC purchased a new position in shares of GoDaddy during the first quarter valued at approximately $291,000. DAVENPORT & Co LLC raised its holdings in shares of GoDaddy by 7.7% during the first quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after acquiring an additional 141 shares in the last quarter. LPL Financial LLC lifted its stake in GoDaddy by 22.9% in the fourth 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 period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in GoDaddy by 13.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock worth $1,060,000 after acquiring an additional 699 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GDDY shares. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Piper Sandler lifted their price objective on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Jefferies Financial Group decreased their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Barclays dropped their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has a consensus rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Price Performance

Shares of GDDY traded down $0.32 during midday trading on Friday, hitting $165.97. 1,231,346 shares of the company traded hands, compared to its average volume of 1,356,579. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 31.92 and a beta of 1.05. The firm has a 50 day moving average of $176.86 and a 200-day moving average of $182.75. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a 52 week low of $140.51 and a 52 week high of $216.00.

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

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the sale, the chief accounting officer directly owned 21,198 shares in the company, valued at approximately $3,770,488.26. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the sale, the chief financial officer directly owned 77,250 shares of the company's stock, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,757 shares of company stock worth $12,243,920 in the last 90 days. 0.61% of the stock is owned by 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.