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

Douglas Lane & Associates LLC reduced its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 798,203 shares of the technology company's stock after selling 54,358 shares during the period. GoDaddy makes up 2.2% of Douglas Lane & Associates LLC's portfolio, making the stock its 6th largest holding. Douglas Lane & Associates LLC owned approximately 0.57% of GoDaddy worth $157,541,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC raised its position in GoDaddy by 2.5% during the third 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 during the period. FMR LLC lifted its stake in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of GoDaddy by 17.5% during the 3rd 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 purchasing an additional 203,909 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised 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. Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Five investment 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $187.71.

GoDaddy Stock Up 0.7 %

NYSE:GDDY traded up $1.34 during mid-day trading on Wednesday, reaching $196.91. The company's stock had a trading volume of 768,548 shares, compared to its average volume of 911,127. 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 1 year low of $102.60 and a 1 year high of $211.11. The stock has a fifty day moving average of $194.36 and a 200-day moving average of $168.21. The firm has a market capitalization of $27.64 billion, a PE ratio of 15.22 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS. Equities research analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, 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 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 dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,003 shares of company stock valued at $4,626,523. Corporate insiders own 0.61% of the company's stock.

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.