Raymond James Financial Inc. Acquires New Shares in GoDaddy Inc. (NYSE:GDDY)

Raymond James Financial Inc. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 226,318 shares of the technology company's stock, valued at approximately $44,668,000. Raymond James Financial Inc. owned 0.16% of GoDaddy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the 4th quarter worth approximately $43,000. Friedenthal Financial purchased a new stake in GoDaddy during the 4th quarter valued at $49,000. Global Retirement Partners LLC lifted its holdings in shares of GoDaddy by 31.1% during the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock valued at $77,000 after buying an additional 93 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of GoDaddy in the 4th quarter worth $98,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Trading Down 0.4 %

NYSE GDDY traded down $0.65 during trading hours on Friday, hitting $171.55. 1,166,177 shares of the company were exchanged, compared to its average volume of 1,466,370. The stock has a market cap of $24.25 billion, a PE ratio of 26.60 and a beta of 1.19. GoDaddy Inc. has a 52 week low of $120.23 and a 52 week high of $216.00. The stock has a 50-day moving average price of $177.13 and a 200 day moving average price of $185.93. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the transaction, the chief operating officer now directly owns 182,632 shares in the company, valued at approximately $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now owns 22,621 shares of the company's stock, valued at $4,698,381.70. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Benchmark raised their target price on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Raymond James raised their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, UBS Group raised their target price on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and an average price target of $210.73.

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.