Icon Wealth Advisors LLC Has $385,000 Stake in GoDaddy Inc. (NYSE:GDDY)

Icon Wealth Advisors LLC reduced its position in GoDaddy Inc. (NYSE:GDDY) by 37.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,457 shares of the technology company’s stock after selling 1,477 shares during the period. Icon Wealth Advisors LLC’s holdings in GoDaddy were worth $385,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GDDY. Price T Rowe Associates Inc. MD lifted its stake in shares of GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Federated Hermes Inc. boosted its stake in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after purchasing an additional 235,934 shares in the last quarter. Fiera Capital Corp raised its stake in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after purchasing an additional 13,206 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of GoDaddy in the first quarter valued at approximately $75,855,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Benchmark upped their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays lifted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.31.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock worth $4,803,380 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 1.7 %

Shares of GDDY opened at $196.35 on Friday. The firm has a market cap of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11. GoDaddy Inc. has a fifty-two week low of $94.50 and a fifty-two week high of $196.71. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The business has a 50-day moving average of $166.62 and a 200 day moving average of $153.30.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current year.

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.