Lido Advisors LLC Cuts Stock Position in GoDaddy Inc. $GDDY

Lido Advisors LLC lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 69.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,406 shares of the technology company’s stock after selling 10,056 shares during the period. Lido Advisors LLC’s holdings in GoDaddy were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GDDY. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in GoDaddy by 20.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock valued at $17,888,000 after purchasing an additional 17,200 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock valued at $15,602,000 after buying an additional 10,631 shares during the last quarter. GDS Wealth Management increased its position in shares of GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after acquiring an additional 8,388 shares in the last quarter. Neo Ivy Capital Management purchased a new position in GoDaddy in the 2nd quarter worth approximately $470,000. Finally, Hsbc Holdings PLC lifted its position in GoDaddy by 20.1% in the 2nd quarter. Hsbc Holdings PLC now owns 804,878 shares of the technology company’s stock valued at $144,863,000 after acquiring an additional 134,520 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 969 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $123,973.86. Following the completion of the sale, the chief accounting officer owned 19,452 shares of the company’s stock, valued at $2,488,688.88. The trade was a 4.75% decrease in their position. 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 company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $145.71, for a total value of $145,710.00. Following the completion of the sale, the chief operating officer owned 251,949 shares of the company’s stock, valued at $36,711,488.79. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 19,218 shares of company stock worth $2,615,781. Insiders own 0.70% of the company’s stock.

GoDaddy Trading Down 1.4%

GoDaddy stock opened at $128.43 on Friday. The business has a 50-day simple moving average of $130.85 and a two-hundred day simple moving average of $151.37. The company has a market cap of $17.36 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.43 and a beta of 0.95. GoDaddy Inc. has a 52-week low of $121.94 and a 52-week high of $216.00. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 EPS. Analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GDDY. Morgan Stanley set a $159.00 target price on GoDaddy in a report on Friday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of GoDaddy in a report on Friday, October 31st. B. Riley decreased their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Wells Fargo & Company reduced their price target on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.14.

About GoDaddy

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.