GoDaddy Inc. (NYSE:GDDY) Stock Position Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its position in GoDaddy Inc. (NYSE:GDDY) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 798,203 shares of the technology company’s stock after selling 54,358 shares during the quarter. GoDaddy makes up about 2.2% of Douglas Lane & Associates LLC’s portfolio, making the stock its 6th biggest position. Douglas Lane & Associates LLC owned approximately 0.57% of GoDaddy worth $157,541,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Range Financial Group LLC grew its stake in GoDaddy by 71.0% in the fourth quarter. Range Financial Group LLC now owns 2,214 shares of the technology company’s stock valued at $437,000 after purchasing an additional 919 shares during the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in shares of GoDaddy during the 4th quarter valued at $233,000. CWA Asset Management Group LLC grew its stake in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares during the last quarter. Pensionfund Sabic increased its position in GoDaddy by 41.7% during the 4th quarter. Pensionfund Sabic now owns 8,500 shares of the technology company’s stock valued at $1,678,000 after buying an additional 2,500 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in GoDaddy by 2.4% in the fourth quarter. Nordea Investment Management AB now owns 12,804 shares of the technology company’s stock valued at $2,530,000 after buying an additional 303 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GDDY shares. Robert W. Baird increased their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays increased their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.71.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,003 shares of company stock valued at $4,626,523. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY traded up $1.35 during trading on Wednesday, reaching $196.92. 387,298 shares of the company’s stock traded hands, compared to its average volume of 832,413. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $211.11. The company has a 50-day simple moving average of $194.36 and a 200-day simple moving average of $168.21. The firm has a market cap of $27.65 billion, a PE ratio of 15.22 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. As a group, analysts predict that GoDaddy Inc. will post 4.96 earnings per share 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.