Icon Wealth Advisors LLC Sells 1,597 Shares of GoDaddy Inc. (NYSE:GDDY)

Icon Wealth Advisors LLC reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 40.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,337 shares of the technology company’s stock after selling 1,597 shares during the period. Icon Wealth Advisors LLC’s holdings in GoDaddy were worth $366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Federated Hermes Inc. raised its holdings in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after buying an additional 203,909 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares in the last quarter. Finally, Fiera Capital Corp grew its position in shares of GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Down 0.1 %

GDDY stock opened at $197.68 on Friday. The company has a market capitalization of $27.75 billion, a P/E ratio of 15.28 and a beta of 1.11. GoDaddy Inc. has a 12 month low of $98.13 and a 12 month high of $202.56. The firm’s fifty day simple moving average is $170.85 and its 200-day simple moving average is $155.58. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

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

Analyst Ratings Changes

Several research firms recently commented on GDDY. Royal Bank of Canada boosted their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Raymond James upped their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

Insider Activity at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction 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. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,345 shares of company stock worth $3,897,255. Insiders own 0.61% of the company’s stock.

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.