Douglas Lane & Associates LLC Purchases New Shares in GoDaddy Inc. (NYSE:GDDY)

Douglas Lane & Associates LLC acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 839,397 shares of the technology company’s stock, valued at approximately $69,628,000.

A number of other large investors also recently modified their holdings of the business. Global Endowment Management LP acquired a new stake in GoDaddy during the 3rd quarter worth $6,176,000. Southeast Asset Advisors Inc. boosted its holdings in shares of GoDaddy by 25.3% in the third quarter. Southeast Asset Advisors Inc. now owns 50,967 shares of the technology company’s stock valued at $3,872,000 after buying an additional 10,285 shares during the period. CWM LLC raised its holdings in shares of GoDaddy by 184.9% during the third quarter. CWM LLC now owns 46,255 shares of the technology company’s stock worth $3,514,000 after acquiring an additional 30,018 shares during the period. Principal Financial Group Inc. raised its stake in shares of GoDaddy by 23.7% in the 2nd quarter. Principal Financial Group Inc. now owns 24,636 shares of the technology company’s stock valued at $1,807,000 after purchasing an additional 4,725 shares during the period. Finally, Toronto Dominion Bank grew its holdings in shares of GoDaddy by 4.7% during the third quarter. Toronto Dominion Bank now owns 27,639 shares of the technology company’s stock worth $2,100,000 after buying an additional 1,237 shares in the last quarter. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GDDY traded up $0.58 during trading hours on Thursday, hitting $82.40. 6,541 shares of the company’s stock traded hands, compared to its average volume of 1,003,074. GoDaddy Inc. has a 52 week low of $40.25 and a 52 week high of $91.81. The firm has a market capitalization of $13.92 billion, a P/E ratio of -26.39, a P/E/G ratio of 2.76 and a beta of 0.95. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.85. The business’s fifty day moving average price is $83.20 and its two-hundred day moving average price is $77.19.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.07. The firm had revenue of $844.40 million for the quarter, compared to analysts’ expectations of $835.25 million. GoDaddy had a negative net margin of 15.67% and a positive return on equity of 94.14%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 1.25 EPS for the current fiscal year.

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 2,999 shares of the business’s stock in a transaction dated Tuesday, January 5th. The shares were sold at an average price of $81.67, for a total value of $244,928.33. Following the completion of the sale, the chief executive officer now directly owns 86,018 shares of the company’s stock, valued at approximately $7,025,090.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nick Daddario sold 535 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $73.48, for a total value of $39,311.80. Following the completion of the transaction, the chief accounting officer now directly owns 5,621 shares in the company, valued at approximately $413,031.08. The disclosure for this sale can be found here. Insiders sold 145,617 shares of company stock worth $11,376,653 in the last 90 days. 0.52% of the stock is currently owned by company insiders.

Several analysts recently issued reports on the company. Rosenblatt Securities upped their target price on GoDaddy from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Oppenheimer increased their target price on shares of GoDaddy from $83.00 to $92.00 in a research report on Thursday, November 5th. Wedbush reaffirmed a “buy” rating on shares of GoDaddy in a research report on Friday, September 18th. Zacks Investment Research cut GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a report on Friday, November 6th. Finally, Piper Sandler increased their target price on GoDaddy from $86.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.87.

GoDaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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