Mariner LLC Trims Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Mariner LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,724 shares of the technology company’s stock after selling 842 shares during the period. Mariner LLC’s holdings in GoDaddy were worth $5,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its position in shares of GoDaddy by 4.4% in 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 period. Advisors Capital Management LLC increased its stake in GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after buying an additional 55 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in GoDaddy by 4.7% in 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 in the last quarter. New York Life Investment Management LLC raised its holdings 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 valued at $3,708,000 after acquiring an additional 71 shares during the period. Finally, Metis Global Partners LLC boosted its stake in shares of GoDaddy by 1.1% in the fourth quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock worth $1,294,000 after acquiring an additional 74 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at $68,572,778.10. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at approximately $35,481,744.96. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock valued at $3,518,150. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 0.4 %

GDDY stock opened at $171.55 on Friday. The firm’s fifty day simple moving average is $177.13 and its two-hundred day simple moving average is $185.93. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 26.60 and a beta of 1.19. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a twelve month low of $120.23 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research 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. Citigroup upped their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.73.

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.