Raymond James Financial Services Advisors Inc. Sells 1,117 Shares of GoDaddy Inc. (NYSE:GDDY)

Raymond James Financial Services Advisors Inc. trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 11.6% during the 4th quarter, HoldingsChannel reports. The fund owned 8,511 shares of the technology company’s stock after selling 1,117 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in GoDaddy were worth $904,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in GoDaddy by 644.6% in the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after acquiring an additional 129,547 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of GoDaddy by 41.7% during the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after purchasing an additional 20,000 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of GoDaddy during the fourth quarter valued at $1,695,000. Raymond James Trust N.A. lifted its holdings in shares of GoDaddy by 4.8% during the fourth quarter. Raymond James Trust N.A. now owns 3,549 shares of the technology company’s stock valued at $377,000 after purchasing an additional 162 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of GoDaddy during the fourth quarter valued at $276,000. 90.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 8,687 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $991,273.57. Following the completion of the sale, the chief executive officer now owns 454,031 shares in the company, valued at $51,809,477.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $991,273.57. Following the sale, the chief executive officer now owns 454,031 shares of the company’s stock, valued at approximately $51,809,477.41. The disclosure for this sale can be found here. Insiders sold a total of 121,234 shares of company stock worth $13,534,946 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Raymond James initiated coverage on GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price target on the stock. Piper Sandler upped their price target on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.18.

GoDaddy Stock Performance

Shares of GDDY opened at $121.42 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The business has a 50-day simple moving average of $116.78 and a two-hundred day simple moving average of $102.12. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 12.67 and a beta of 1.12. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. On average, analysts expect that GoDaddy Inc. will post 4.76 EPS for the current year.

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.