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

Sea Cliff Partners Management LP trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,000 shares of the technology company’s stock after selling 2,000 shares during the period. GoDaddy accounts for about 7.4% of Sea Cliff Partners Management LP’s holdings, making the stock its 6th largest holding. Sea Cliff Partners Management LP owned about 0.08% of GoDaddy worth $21,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quent Capital LLC lifted its stake 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 during the last quarter. Advisors Capital Management LLC raised its holdings 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 raised its holdings 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 lifted its position in shares of GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after buying an additional 64 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in shares of GoDaddy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after buying an additional 71 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Up 0.2%

GoDaddy stock opened at $190.27 on Friday. The stock has a 50 day moving average of $178.47 and a two-hundred day moving average of $188.78. GoDaddy Inc. has a twelve month low of $134.63 and a twelve month high of $216.00. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of 29.50 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.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $2.76 EPS. GoDaddy’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction 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 approximately $91,350,548.34. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on 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 $4,031,154.06. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,500 shares of company stock worth $10,050,555. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several research analyst reports. Jefferies Financial Group cut their price target on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Royal Bank of Canada decreased their price objective on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. UBS Group lifted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley reduced 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. Finally, Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $214.86.

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.