Raymond James Trust N.A. Sells 306 Shares of GoDaddy Inc. (NYSE:GDDY)

Raymond James Trust N.A. reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,708 shares of the technology company’s stock after selling 306 shares during the period. Raymond James Trust N.A.’s holdings in GoDaddy were worth $425,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the 3rd quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy in the second quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new position in shares of GoDaddy during the third quarter worth about $30,000. ORG Partners LLC bought a new position in shares of GoDaddy during the second quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy in the 2nd quarter valued at approximately $36,000. Institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GDDY shares. Piper Sandler upped their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Benchmark increased their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird lifted their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Performance

GDDY opened at $199.73 on Wednesday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business has a fifty day simple moving average of $168.48 and a 200 day simple moving average of $154.54. GoDaddy Inc. has a 1 year low of $94.50 and a 1 year high of $202.56. The company has a market capitalization of $28.04 billion, a PE ratio of 15.44 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its earnings results 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. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock worth $3,897,255 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

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.