Sea Cliff Partners Management LP Sells 2,000 Shares of GoDaddy Inc. (NYSE:GDDY)

Sea Cliff Partners Management LP reduced its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 108,000 shares of the technology company's stock after selling 2,000 shares during the quarter. GoDaddy accounts for 7.4% of Sea Cliff Partners Management LP's investment portfolio, making the stock its 6th biggest holding. Sea Cliff Partners Management LP owned about 0.08% of GoDaddy worth $21,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quent Capital LLC boosted its position in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after purchasing an additional 53 shares in the last quarter. Advisors Capital Management LLC boosted its position in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after purchasing an additional 55 shares in the last quarter. BNP Paribas boosted its position in GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after purchasing an additional 59 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after purchasing an additional 64 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its position in GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock worth $3,708,000 after purchasing an additional 71 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. B. Riley boosted their price target on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Raymond James boosted their price target on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Piper Sandler boosted their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Benchmark reissued a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Seven research 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $214.86.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total value of $95,430.00. Following the completion of the transaction, the director now owns 21,121 shares of the company's stock, valued at approximately $4,031,154.06. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 505,649 shares of the company's stock, valued at $91,350,548.34. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,526 shares of company stock worth $10,243,716 in the last quarter. 0.61% of the stock is owned by corporate insiders.

GoDaddy Trading Down 0.9%

GDDY stock traded down $1.62 during trading on Tuesday, reaching $188.26. 1,126,799 shares of the stock traded hands, compared to its average volume of 1,479,951. The business's 50 day moving average price is $179.11 and its 200-day moving average price is $189.30. GoDaddy Inc. has a 52-week low of $135.73 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a market capitalization of $26.82 billion, a PE ratio of 29.19 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $2.76 EPS. GoDaddy's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.