Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $5.44 Million Position in GoDaddy Inc. (NYSE:GDDY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 57.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GDDY. Atria Wealth Solutions Inc. acquired a new stake in GoDaddy during the 4th quarter valued at $220,000. Global Retirement Partners LLC raised its position in shares of GoDaddy by 31.1% in the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock valued at $77,000 after purchasing an additional 93 shares during the period. Private Advisor Group LLC lifted its stake in shares of GoDaddy by 6.8% during the 4th quarter. Private Advisor Group LLC now owns 2,335 shares of the technology company's stock worth $461,000 after buying an additional 148 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of GoDaddy by 2.9% during the 4th quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company's stock worth $187,441,000 after buying an additional 26,341 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of GoDaddy by 7.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 34,306 shares of the technology company's stock worth $6,771,000 after buying an additional 2,472 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares of the company's stock, valued at $20,750,193.75. This represents a 4.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now directly owns 21,621 shares in the company, valued at $3,888,536.85. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,632 shares of company stock worth $12,602,635 over the last quarter. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $177.18 on Friday. GoDaddy Inc. has a twelve month low of $138.48 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The stock's 50-day simple moving average is $181.23 and its 200 day simple moving average is $187.24. The firm has a market capitalization of $25.25 billion, a PE ratio of 34.07 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its 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 company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $2.76 EPS. On average, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Barclays reduced their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Piper Sandler upped their price objective on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $214.86.

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.

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