Procyon Advisors LLC Sells 2,103 Shares of GoDaddy Inc. (NYSE:GDDY)

Procyon Advisors LLC reduced its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,346 shares of the technology company's stock after selling 2,103 shares during the quarter. Procyon Advisors LLC's holdings in GoDaddy were worth $858,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the third quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in GoDaddy in the 3rd quarter valued at about $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy during the fourth quarter worth approximately $43,000. Finally, Huntington National Bank raised its position in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after buying an additional 230 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company's stock, valued at approximately $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the sale, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,483 shares of company stock valued at $4,759,553. Corporate insiders own 0.61% of the company's stock.

GoDaddy Price Performance

Shares of GDDY stock traded up $0.04 during trading on Friday, hitting $200.89. The company had a trading volume of 1,308,296 shares, compared to its average volume of 824,890. The stock's 50-day moving average is $198.80 and its two-hundred day moving average is $171.38. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of 15.52 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 52 week low of $106.32 and a 52 week high of $211.11.

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, topping analysts' consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, analysts predict that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of recent research reports. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Robert W. Baird raised their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Finally, Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $194.14.

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.