Raymond James & Associates Lowers Holdings in Godaddy Inc (GDDY)

Raymond James & Associates lowered its holdings in shares of Godaddy Inc (NYSE:GDDY) by 91.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,165 shares of the technology company’s stock after selling 42,902 shares during the quarter. Raymond James & Associates’ holdings in Godaddy were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GDDY. Tocqueville Asset Management L.P. raised its stake in shares of Godaddy by 2.1% in the fourth quarter. Tocqueville Asset Management L.P. now owns 7,300 shares of the technology company’s stock valued at $479,000 after acquiring an additional 150 shares during the period. Nordea Investment Management AB raised its stake in shares of Godaddy by 3.1% in the third quarter. Nordea Investment Management AB now owns 5,392 shares of the technology company’s stock valued at $449,000 after acquiring an additional 161 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Godaddy by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 19,773 shares of the technology company’s stock valued at $1,297,000 after acquiring an additional 161 shares during the period. Parallel Advisors LLC raised its stake in shares of Godaddy by 15.8% in the fourth quarter. Parallel Advisors LLC now owns 1,516 shares of the technology company’s stock valued at $99,000 after acquiring an additional 207 shares during the period. Finally, WINTON GROUP Ltd raised its stake in shares of Godaddy by 2.7% in the fourth quarter. WINTON GROUP Ltd now owns 9,989 shares of the technology company’s stock valued at $655,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 98.60% of the company’s stock.

In other news, EVP Arne Josefsberg sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $63.48, for a total value of $2,856,600.00. Following the sale, the executive vice president now directly owns 46,471 shares in the company, valued at approximately $2,949,979.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Wagner sold 37,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $75.19, for a total transaction of $2,782,030.00. Following the completion of the sale, the chief executive officer now owns 193,607 shares in the company, valued at $14,557,310.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,248 shares of company stock worth $18,821,082. 7.63% of the stock is owned by company insiders.

Several brokerages have recently weighed in on GDDY. Barclays increased their target price on shares of Godaddy from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, February 21st. Morgan Stanley raised their price target on shares of Godaddy from $88.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, February 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $97.00 price target on shares of Godaddy in a research note on Thursday, February 21st. They noted that the move was a valuation call. Citigroup raised their price target on shares of Godaddy from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. Finally, TheStreet raised shares of Godaddy from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Godaddy presently has an average rating of “Buy” and an average price target of $85.17.

Shares of Godaddy stock opened at $79.17 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.90. Godaddy Inc has a 1 year low of $56.67 and a 1 year high of $84.97. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 125.67, a price-to-earnings-growth ratio of 5.71 and a beta of 0.65.

Godaddy (NYSE:GDDY) last issued its earnings results on Wednesday, February 20th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.15. Godaddy had a net margin of 2.90% and a return on equity of 11.91%. The company had revenue of $696.00 million for the quarter, compared to analysts’ expectations of $693.41 million. During the same period in the prior year, the business earned $0.54 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts forecast that Godaddy Inc will post 0.82 earnings per share for the current fiscal year.

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Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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