Highland Capital Management LLC lessened its stake in GoDaddy Inc. (NYSE:GDDY – Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,098 shares of the technology company’s stock after selling 123 shares during the quarter. Highland Capital Management LLC’s holdings in GoDaddy were worth $1,401,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC lifted its holdings in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares in the last quarter. FMR LLC boosted 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 purchasing an additional 274,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $214,584,000 after buying an additional 203,909 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of GoDaddy by 25.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock valued at $90,150,000 after buying an additional 117,028 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.
GoDaddy Price Performance
GoDaddy stock opened at $213.32 on Friday. The company’s 50 day simple moving average is $202.16 and its 200-day simple 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 Inc. has a 1 year low of $106.42 and a 1 year high of $216.00. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 16.49 and a beta of 1.15.
Insider Activity at GoDaddy
In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % 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 worth $4,256,183. 0.61% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on GDDY. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. B. Riley upped their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Morgan Stanley boosted their price objective on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Five investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.07.
View Our Latest Report on GDDY
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.
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