Sterling Capital Management LLC Has $446,000 Holdings in GoDaddy Inc. (NYSE:GDDY)

Sterling Capital Management LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 12.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,258 shares of the technology company’s stock after selling 320 shares during the period. Sterling Capital Management LLC’s holdings in GoDaddy were worth $446,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GDDY. Barclays PLC increased its position in GoDaddy by 28.7% in the 3rd quarter. Barclays PLC now owns 447,425 shares of the technology company’s stock valued at $70,147,000 after acquiring an additional 99,734 shares during the period. Te Ahumairangi Investment Management Ltd increased its holdings in GoDaddy by 86.8% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after purchasing an additional 6,974 shares during the period. Anchor Investment Management LLC bought a new position in GoDaddy during the 3rd quarter worth $31,000. Wilmington Savings Fund Society FSB acquired a new position in GoDaddy during the 3rd quarter worth about $922,000. Finally, Tidal Investments LLC grew its position in shares of GoDaddy by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after buying an additional 5,205 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $171.55 on Friday. GoDaddy Inc. has a twelve month low of $119.76 and a twelve month high of $216.00. The stock’s 50 day moving average is $177.13 and its 200-day moving average is $185.71. 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 firm has a market capitalization of $24.25 billion, a price-to-earnings ratio of 26.60 and a beta of 1.19.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GDDY. Citigroup upped their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Piper Sandler boosted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Morgan Stanley dropped their price objective on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.73.

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.