GoDaddy Inc. (NYSE:GDDY) Stock Position Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,694 shares of the technology company's stock after selling 3,866 shares during the period. Oppenheimer Asset Management Inc.'s holdings in GoDaddy were worth $5,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Capital Management LLC increased its holdings in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after acquiring an additional 55 shares during the period. BNP Paribas lifted its position in GoDaddy by 2.9% in the 4th 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. City Holding Co. lifted its position in GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in GoDaddy by 4.7% in the 4th 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, NorthCrest Asset Manangement LLC lifted its position in GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after purchasing an additional 67 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GDDY has been the topic of several recent research reports. Citigroup cut their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a research report on Monday. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Piper Sandler lifted their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Price Performance

Shares of NYSE GDDY traded down $0.19 during midday trading on Thursday, reaching $177.18. The company's stock had a trading volume of 938,539 shares, compared to its average volume of 1,341,393. 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 has a 50 day moving average price of $181.23 and a 200 day moving average price of $187.24. GoDaddy Inc. has a one year low of $138.48 and a one year high of $216.00. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 34.07 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 254,949 shares of the company's stock, valued at $44,860,826.04. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 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 disclosure for this sale can be found here. Insiders have sold 69,632 shares of company stock worth $12,602,635 in the last ninety days. 0.61% of the stock is currently owned by corporate 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.