Twinbeech Capital LP Trims Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Twinbeech Capital LP lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 94.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,806 shares of the technology company's stock after selling 180,781 shares during the period. Twinbeech Capital LP's holdings in GoDaddy were worth $2,133,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Strategic Global Advisors LLC raised its position in shares of GoDaddy by 4.2% in the 4th quarter. Strategic Global Advisors LLC now owns 54,708 shares of the technology company's stock worth $10,798,000 after purchasing an additional 2,199 shares during the last quarter. Siemens Fonds Invest GmbH grew its stake in shares of GoDaddy by 1,842.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 29,159 shares of the technology company's stock valued at $5,499,000 after acquiring an additional 27,658 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of GoDaddy by 1.5% in the fourth quarter. Rafferty Asset Management LLC now owns 55,600 shares of the technology company's stock worth $10,974,000 after buying an additional 812 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of GoDaddy in the fourth quarter worth $8,576,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in GoDaddy during the fourth quarter valued at $407,000. Institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDDY. Piper Sandler upped 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. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. B. Riley increased their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Morgan Stanley dropped their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target for the company. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $214.86.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company's stock, valued at approximately $3,996,379.86. The trade was a 2.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,526 shares of company stock valued at $10,243,716 in the last 90 days. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

Shares of GDDY traded down $1.16 during trading hours on Tuesday, hitting $181.68. The stock had a trading volume of 241,606 shares, compared to its average volume of 1,503,585. The firm has a 50-day moving average price of $179.45 and a 200 day moving average price of $189.71. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 28.17 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $2.76 EPS. GoDaddy's revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

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.