Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 40,613 Shares of GoDaddy Inc. (NYSE:GDDY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 57.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,556 shares of the technology company's stock after selling 40,613 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in GoDaddy were worth $5,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in GoDaddy in the 4th quarter valued at approximately $25,554,000. Sowell Financial Services LLC purchased a new position in shares of GoDaddy in the first quarter worth $291,000. Jones Financial Companies Lllp lifted its holdings in shares of GoDaddy by 68.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after purchasing an additional 499 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of GoDaddy by 16.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock valued at $134,000 after purchasing an additional 98 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of GoDaddy by 22.9% during the fourth quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock valued at $13,048,000 after buying an additional 12,328 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

Shares of GDDY traded down $0.05 during trading hours on Monday, reaching $180.02. 870,567 shares of the stock traded hands, compared to its average volume of 1,479,906. The company has a market cap of $25.65 billion, a P/E ratio of 34.62 and a beta of 1.07. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The company's 50-day moving average price is $181.41 and its two-hundred day moving average price is $186.77. GoDaddy Inc. has a 52-week low of $138.48 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted 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 for 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%. GoDaddy's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. On average, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Benchmark reissued a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Barclays dropped their target price on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler increased their price target on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $175.96, for a total value of $175,960.00. Following the sale, the chief operating officer now owns 254,949 shares in the company, valued at $44,860,826.04. The trade was a 0.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 684 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $122,990.04. Following the transaction, the chief accounting officer now owns 23,371 shares of the company's stock, valued at approximately $4,202,339.51. The trade was a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,632 shares of company stock worth $12,602,635 in the last three months. 0.61% of the stock is owned by company insiders.

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.