Interval Partners LP Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Interval Partners LP cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,260 shares of the technology company's stock after selling 1,787 shares during the period. Interval Partners LP's holdings in GoDaddy were worth $3,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Engle Capital Management L.P. grew its position in shares of GoDaddy by 95.6% in the fourth quarter. Engle Capital Management L.P. now owns 125,000 shares of the technology company's stock valued at $24,671,000 after purchasing an additional 61,100 shares in the last quarter. Ensign Peak Advisors Inc grew its position in GoDaddy by 4.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 75,881 shares of the technology company's stock worth $14,977,000 after acquiring an additional 3,485 shares during the period. Ethic Inc. grew its position in GoDaddy by 75.1% in the fourth quarter. Ethic Inc. now owns 33,814 shares of the technology company's stock worth $6,674,000 after acquiring an additional 14,502 shares during the period. Deutsche Bank AG grew its position in GoDaddy by 13.6% in the fourth quarter. Deutsche Bank AG now owns 835,861 shares of the technology company's stock worth $164,974,000 after acquiring an additional 100,256 shares during the period. Finally, Cetera Investment Advisers grew its position in GoDaddy by 26.0% in the fourth quarter. Cetera Investment Advisers now owns 23,200 shares of the technology company's stock worth $4,579,000 after acquiring an additional 4,786 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GDDY. Wells Fargo & Company began coverage on GoDaddy in a research report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price objective for the company. B. Riley increased their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Morgan Stanley lowered their price objective 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. Raymond James increased their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, Piper Sandler increased their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Trading Up 0.2%

NYSE:GDDY traded up $0.32 during trading hours on Friday, reaching $190.27. 1,204,177 shares of the stock were exchanged, compared to its average volume of 1,481,357. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The business has a 50-day moving average of $178.47 and a two-hundred day moving average of $188.97. GoDaddy Inc. has a twelve month low of $135.03 and a twelve month high of $216.00. The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 29.50 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.76 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the sale, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the sale, the chief executive officer now owns 505,649 shares in the company, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,500 shares of company stock worth $10,050,555. Corporate insiders own 0.61% of the company's stock.

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.