GoDaddy Inc. (NYSE:GDDY) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 798,203 shares of the technology company’s stock after selling 54,358 shares during the period. GoDaddy comprises approximately 2.2% of Douglas Lane & Associates LLC’s holdings, making the stock its 6th largest holding. Douglas Lane & Associates LLC’s holdings in GoDaddy were worth $157,541,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. Lindbrook Capital LLC increased its holdings in GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares during the period. Equitable Trust Co. raised its holdings in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after buying an additional 107 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of GoDaddy by 22.4% during the 3rd quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $1.35 during trading on Wednesday, hitting $196.92. 387,298 shares of the stock were exchanged, compared to its average volume of 832,413. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a fifty day moving average price of $194.36 and a 200-day moving average price of $168.21. The stock has a market capitalization of $27.65 billion, a price-to-earnings ratio of 15.22 and a beta of 1.15. GoDaddy Inc. has a 1-year low of $102.60 and a 1-year high of $211.11.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities analysts predict that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the sale, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,003 shares of company stock worth $4,626,523. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GDDY. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Benchmark upped their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.71.

GoDaddy Company 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.