Rice Hall James & Associates LLC Trims Position in GoDaddy Inc. (NYSE:GDDY)

Rice Hall James & Associates LLC reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 21.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,947 shares of the technology company’s stock after selling 10,601 shares during the period. Rice Hall James & Associates LLC’s holdings in GoDaddy were worth $5,949,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of GoDaddy by 60.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,459 shares of the technology company’s stock worth $529,000 after buying an additional 1,678 shares during the last quarter. Diversified Trust Co boosted its position in GoDaddy by 35.2% in the 1st quarter. Diversified Trust Co now owns 3,515 shares of the technology company’s stock worth $417,000 after purchasing an additional 916 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of GoDaddy by 866.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 9,266 shares during the period. Norden Group LLC acquired a new stake in shares of GoDaddy during the 1st quarter worth approximately $806,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of GoDaddy by 13.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,771 shares of the technology company’s stock valued at $6,382,000 after purchasing an additional 6,365 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,744 shares of company stock valued at $4,089,571. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on GDDY. Benchmark raised their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Raymond James increased their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. B. Riley increased their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.23.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $166.68 on Friday. The firm has a 50-day simple moving average of $159.17 and a 200-day simple moving average of $146.82. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 12.88 and a beta of 1.12. GoDaddy Inc. has a 52 week low of $72.14 and a 52 week high of $171.93.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 313.25%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, equities analysts predict that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

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.