Tidal Investments LLC Has $2.92 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Tidal Investments LLC increased its position in GoDaddy Inc. (NYSE:GDDY) by 38.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,643 shares of the technology company’s stock after purchasing an additional 5,205 shares during the quarter. Tidal Investments LLC’s holdings in GoDaddy were worth $2,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the third quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy during the second quarter worth about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy in the 3rd quarter worth about $30,000. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter valued at about $31,000. Finally, International Assets Investment Management LLC acquired a new position in GoDaddy during the 2nd quarter valued at about $36,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

NYSE:GDDY opened at $206.78 on Monday. The company has a market capitalization of $29.03 billion, a P/E ratio of 15.98 and a beta of 1.15. The business has a fifty day simple moving average of $180.63 and a two-hundred day simple moving average of $160.59. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1 year low of $99.90 and a 1 year high of $210.30.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. On average, analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $466,800.00. Following the sale, the chief executive officer now directly owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the transaction, the chief operating officer now owns 186,632 shares of the company’s stock, valued at $30,637,509.12. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock valued at $3,950,683 over the last quarter. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GDDY shares. Robert W. Baird raised their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Benchmark raised their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.57.

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.