Lido Advisors LLC Has $3.54 Million Position in GoDaddy Inc. (NYSE:GDDY)

Lido Advisors LLC lowered its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 68.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,927 shares of the technology company's stock after selling 39,223 shares during the period. Lido Advisors LLC's holdings in GoDaddy were worth $3,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GDDY. WCM Investment Management LLC increased its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares during the period. Norges Bank acquired a new position in shares of GoDaddy in the 4th quarter valued at $356,038,000. Canada Pension Plan Investment Board increased its holdings in shares of GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after acquiring an additional 719,000 shares during the period. Congress Asset Management Co. purchased a new stake in GoDaddy in the 4th quarter valued at $111,923,000. Finally, Amundi boosted its stake in GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after purchasing an additional 426,501 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the transaction, the chief operating officer now directly owns 182,632 shares of the company's stock, valued at approximately $35,481,744.96. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on GDDY shares. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Citigroup reduced their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Barclays lowered their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research note on Friday. Benchmark restated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Finally, Piper Sandler upped their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.21.

GoDaddy Stock Down 8.4 %

NYSE:GDDY traded down $16.09 on Friday, reaching $176.27. The stock had a trading volume of 3,239,351 shares, compared to its average volume of 1,475,902. GoDaddy Inc. has a 12-month low of $124.83 and a 12-month high of $216.00. The stock has a market cap of $24.92 billion, a P/E ratio of 27.33 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a 50-day moving average of $176.43 and a 200 day moving average of $187.35.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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). 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 176.06% and a net margin of 20.49%. During the same quarter last year, the firm posted $2.76 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts predict 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.