GoDaddy Inc. (NYSE:GDDY) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC decreased its stake in GoDaddy Inc. (NYSE:GDDY) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,098 shares of the technology company’s stock after selling 123 shares during the period. Highland Capital Management LLC’s holdings in GoDaddy were worth $1,401,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wedge Capital Management L L P NC boosted its stake in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after purchasing an additional 350,839 shares during the last quarter. FMR LLC grew its stake in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Intech Investment Management LLC lifted its stake in GoDaddy by 498.7% in the third quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock valued at $39,723,000 after buying an additional 211,051 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GoDaddy by 17.5% in 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 acquiring an additional 203,909 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the transaction, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at $36,831,070.24. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,483 shares of company stock valued at $4,256,183. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GDDY has been the topic of a number of research reports. Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

GoDaddy Stock Down 0.3 %

GoDaddy stock opened at $213.32 on Friday. GoDaddy Inc. has a fifty-two week low of $106.42 and a fifty-two week high of $216.00. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 16.49 and a beta of 1.15. The stock’s fifty day moving average is $202.16 and its two-hundred day moving average is $174.74. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned $0.89 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

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.