Janney Montgomery Scott LLC Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

Janney Montgomery Scott LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 21.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,478 shares of the technology company's stock after selling 5,493 shares during the quarter. Janney Montgomery Scott LLC's holdings in GoDaddy were worth $3,211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. Highland Capital Management LLC purchased a new position in GoDaddy during the 3rd quarter worth approximately $1,132,000. Plato Investment Management Ltd lifted its position in GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company's stock valued at $769,000 after purchasing an additional 6,227 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company's stock valued at $25,469,000 after purchasing an additional 35,703 shares during the last quarter. Swedbank AB grew its position in GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company's stock worth $21,425,000 after purchasing an additional 5,247 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of GoDaddy during the 1st quarter valued at about $621,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Nick Daddario sold 684 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares of the company's stock, valued at $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,344 shares of company stock valued at $4,529,897. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent research reports. Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Barclays boosted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, Royal Bank of Canada increased their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $171.38.

GoDaddy Trading Up 3.0 %

NYSE GDDY traded up $5.29 during trading on Monday, hitting $183.13. The stock had a trading volume of 1,086,476 shares, compared to its average volume of 1,461,886. The company has a market capitalization of $25.71 billion, a PE ratio of 14.18 and a beta of 1.11. GoDaddy Inc. has a twelve month low of $87.16 and a twelve month high of $184.38. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50 day moving average price of $159.96 and a 200 day moving average price of $149.24.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. As a group, equities research analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current year.

GoDaddy Company 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.