Raymond James Financial Inc. Sells 16,960 Shares of GoDaddy Inc. $GDDY

Key Points

• Raymond James Financial Inc. has decreased its stake in GoDaddy Inc. by 7.5%, now owning 209,358 shares valued at approximately $37.71 million.
• GoDaddy reported earnings of $1.41 per share, exceeding estimates, with quarterly revenue increasing by 8.3% year-over-year to $1.22 billion.
• Institutional investors control 90.28% of GoDaddy's stock, indicating strong investor interest in the company.

Raymond James Financial Inc. cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,358 shares of the technology company's stock after selling 16,960 shares during the quarter. Raymond James Financial Inc. owned 0.15% of GoDaddy worth $37,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GDDY. American Century Companies Inc. increased its stake in GoDaddy by 9.8% during the 1st quarter. American Century Companies Inc. now owns 46,659 shares of the technology company's stock worth $8,405,000 after purchasing an additional 4,147 shares in the last quarter. Ethic Inc. boosted its position in GoDaddy by 1.9% during the 1st quarter. Ethic Inc. now owns 34,468 shares of the technology company's stock worth $6,229,000 after acquiring an additional 654 shares during the last quarter. Aberdeen Group plc boosted its holdings in shares of GoDaddy by 75.0% in the 1st quarter. Aberdeen Group plc now owns 98,659 shares of the technology company's stock valued at $17,576,000 after buying an additional 42,281 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of GoDaddy by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,050,000 shares of the technology company's stock valued at $189,125,000 after buying an additional 24,281 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of GoDaddy by 13.7% in the 1st quarter. Sei Investments Co. now owns 237,636 shares of the technology company's stock valued at $45,132,000 after buying an additional 28,555 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

Shares of GDDY traded up $1.78 during midday trading on Wednesday, reaching $148.03. 724,815 shares of the stock were exchanged, compared to its average volume of 1,585,667. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. The company has a market cap of $20.49 billion, a P/E ratio of 26.43, a PEG ratio of 1.58 and a beta of 1.08. The stock's 50 day simple moving average is $162.95 and its 200 day simple moving average is $174.12.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, August 15th. The stock was sold at an average price of $143.53, for a total transaction of $143,530.00. Following the completion of the sale, the chief operating officer owned 252,949 shares of the company's stock, valued at approximately $36,305,769.97. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 625 shares of GoDaddy stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total value of $110,675.00. Following the sale, the chief financial officer directly owned 73,459 shares of the company's stock, valued at $13,008,119.72. This represents a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,881 shares of company stock valued at $5,869,390. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GDDY has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wells Fargo & Company cut their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada cut their price target on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Raymond James Financial cut their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

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 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.