GoDaddy Inc. (NYSE:GDDY) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,743 shares of the technology company's stock after selling 4,759 shares during the period. Janney Montgomery Scott LLC's holdings in GoDaddy were worth $2,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in GoDaddy by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after acquiring an additional 395,160 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after purchasing an additional 90,810 shares in the last quarter. Invesco Ltd. raised its position in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after purchasing an additional 304,033 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter valued at approximately $356,038,000. Finally, Northern Trust Corp grew its holdings in GoDaddy by 8.8% during the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock valued at $282,275,000 after buying an additional 115,341 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $539,550.00. Following the completion of the transaction, the chief executive officer now owns 443,947 shares of the company's stock, valued at approximately $79,843,867.95. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,632 shares of company stock valued at $12,602,635. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Up 1.7%

GDDY stock traded up $3.00 during midday trading on Friday, hitting $180.19. 1,866,062 shares of the company's stock were exchanged, compared to its average volume of 1,342,796. The firm has a 50 day moving average price of $181.41 and a 200-day moving average price of $187.07. GoDaddy Inc. has a 12-month low of $138.48 and a 12-month high of $216.00. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 34.65 and a beta of 1.07. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.76 earnings per share. On average, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup cut their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley cut their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler upped their target price on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Jefferies Financial Group decreased their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $214.86.

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.