Raymond James Trust N.A. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,622 shares of the technology company’s stock after buying an additional 343 shares during the period. Raymond James Trust N.A.’s holdings in GoDaddy were worth $282,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GDDY. Vanguard Group Inc. lifted its position in GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares during the period. Starboard Value LP lifted its position in GoDaddy by 23.9% during the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after purchasing an additional 1,973,118 shares during the period. Morgan Stanley raised its position in shares of GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after acquiring an additional 5,133,332 shares during the period. State Street Corp raised its position in shares of GoDaddy by 2.3% in the 1st quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock valued at $329,900,000 after acquiring an additional 90,041 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of GoDaddy by 11.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,132,628 shares of the technology company’s stock valued at $159,563,000 after acquiring an additional 214,222 shares during the period. Institutional investors and hedge funds own 93.73% of the company’s stock.
Insider Activity
In other GoDaddy news, CFO Mark Mccaffrey sold 7,013 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $74.93, for a total transaction of $525,484.09. Following the completion of the sale, the chief financial officer now owns 85,596 shares of the company’s stock, valued at approximately $6,413,708.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Nick Daddario sold 341 shares of GoDaddy stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.37, for a total transaction of $25,701.17. Following the completion of the sale, the chief accounting officer now owns 20,722 shares of the company’s stock, valued at $1,561,817.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 7,013 shares of GoDaddy stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $74.93, for a total value of $525,484.09. Following the sale, the chief financial officer now directly owns 85,596 shares of the company’s stock, valued at approximately $6,413,708.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,219 shares of company stock valued at $1,068,326. 0.54% of the stock is owned by insiders.
GoDaddy Trading Down 2.3 %
GoDaddy (NYSE:GDDY – Get Free Report) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.22). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. GoDaddy had a net margin of 8.03% and a negative return on equity of 95.00%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, sell-side analysts predict that GoDaddy Inc. will post 2.4 EPS for the current fiscal year.
Analyst Ratings Changes
GDDY has been the topic of a number of analyst reports. Barclays cut their price target on shares of GoDaddy from $100.00 to $98.00 in a research report on Friday, May 5th. StockNews.com started coverage on GoDaddy in a research note on Thursday, May 18th. They set a “buy” rating for the company. Royal Bank of Canada started coverage on GoDaddy in a research note on Monday, June 5th. They set a “sector perform” rating and a $80.00 target price for the company. Benchmark reissued a “buy” rating and set a $95.00 target price on shares of GoDaddy in a research note on Tuesday. Finally, B. Riley started coverage on GoDaddy in a research note on Wednesday, June 28th. They set a “buy” rating and a $102.00 target price for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.33.
View Our Latest Analysis on GDDY
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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.
Further Reading
- Five stocks we like better than GoDaddy
- Quiet Period Expirations Explained
- 5 Best Office REITs to Buy Now
- How to Invest in Casino Stocks
- Camping World Slashes its Dividend but Should You Cut the Stock?
- How to Analyze Restaurant Stocks
- SoFi Downgraded: Here’s How To Still Make Money
Receive News & Ratings for GoDaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoDaddy and related companies with MarketBeat.com's FREE daily email newsletter.
