Rice Hall James & Associates LLC Trims Position in GoDaddy Inc. (NYSE:GDDY)

Rice Hall James & Associates LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 44.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,990 shares of the technology company's stock after selling 16,957 shares during the period. Rice Hall James & Associates LLC's holdings in GoDaddy were worth $4,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the 4th quarter valued at approximately $43,000. Friedenthal Financial purchased a new stake in shares of GoDaddy during the 4th quarter valued at approximately $49,000. Finally, Huntington National Bank raised its position in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after buying an additional 230 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Down 1.6 %

Shares of GoDaddy stock traded down $2.75 during trading hours on Friday, reaching $173.82. 1,477,403 shares of the company were exchanged, compared to its average volume of 1,336,687. GoDaddy Inc. has a 1 year low of $108.38 and a 1 year high of $216.00. The stock's fifty day moving average is $201.36 and its 200 day moving average is $180.93. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm has a market cap of $24.40 billion, a PE ratio of 26.95 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the completion of the transaction, the chief operating officer now owns 182,632 shares in the company, valued at $35,481,744.96. This represents a 0.54 % 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, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares of the company's stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,482 shares of company stock worth $4,903,930. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Barclays boosted their target price on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. B. Riley boosted their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Finally, Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $213.20.

About GoDaddy

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.