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

Tidal Investments LLC trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 41.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,943 shares of the technology company's stock after selling 7,700 shares during the period. Tidal Investments LLC's holdings in GoDaddy were worth $2,160,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Quent Capital LLC increased its stake in shares of GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after buying an additional 53 shares during the period. Advisors Capital Management LLC increased its stake in GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after purchasing an additional 55 shares during the last quarter. BNP Paribas increased its stake in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after purchasing an additional 59 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock valued at $283,000 after purchasing an additional 64 shares during the last quarter. Finally, New York Life Investment Management LLC increased its stake in GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after purchasing an additional 71 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Piper Sandler increased their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Jefferies Financial Group lowered their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company began coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price on the stock. Seven investment 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 MarketBeat, GoDaddy has an average rating of "Moderate Buy" and an average price target of $214.86.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction dated 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 sale, the chief financial officer now owns 77,250 shares in the company, valued at $13,978,387.50. The trade was a 32.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the sale, the chief executive officer now owns 505,649 shares of the company's stock, valued at $91,350,548.34. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,526 shares of company stock worth $10,243,716 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of GDDY stock traded down $1.02 during mid-day trading on Wednesday, reaching $179.84. The stock had a trading volume of 242,409 shares, compared to its average volume of 1,481,520. GoDaddy Inc. has a 12-month low of $135.73 and a 12-month high of $216.00. The company has a market cap of $25.63 billion, a P/E ratio of 27.85 and a beta of 1.13. The business has a 50-day simple moving average of $179.45 and a 200 day simple moving average of $189.65. 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 announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the business earned $2.76 EPS. The company's quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current 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.