Douglas Lane & Associates LLC Sells 52,505 Shares of GoDaddy Inc. $GDDY

Key Points

• Douglas Lane & Associates LLC sold 52,505 shares of GoDaddy, reducing its stake by 7.1%, but still maintains about 690,585 shares valued at approximately $124.3 million.
• GoDaddy's current average stock rating is "Moderate Buy," with analysts setting varied target prices ranging from $157.00 to $234.00 as of recent evaluations.
• In the past three months, GoDaddy insiders sold a total of 34,828 shares worth over $5.4 million, indicating notable insider activity amidst fluctuating stock prices.

Douglas Lane & Associates LLC lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 690,585 shares of the technology company's stock after selling 52,505 shares during the quarter. GoDaddy accounts for about 1.8% of Douglas Lane & Associates LLC's portfolio, making the stock its 10th biggest position. Douglas Lane & Associates LLC owned about 0.48% of GoDaddy worth $124,347,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. City Holding Co. raised its position in shares of GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after purchasing an additional 60 shares during the period. Equitable Trust Co. raised its position in GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock valued at $1,199,000 after buying an additional 64 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after buying an additional 67 shares during the last quarter. Allworth Financial LP raised its position in GoDaddy by 4.9% in the 1st quarter. Allworth Financial LP now owns 1,575 shares of the technology company's stock valued at $284,000 after buying an additional 73 shares during the last quarter. Finally, Invst LLC raised its position in GoDaddy by 1.0% in the 4th quarter. Invst LLC now owns 7,521 shares of the technology company's stock valued at $1,484,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Analyst Ratings Changes

GDDY has been the topic of a number of recent research reports. Citigroup dropped their target price on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Raymond James Financial dropped their target price on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada dropped their target price on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company decreased their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Finally, Piper Sandler set a $182.00 price target on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $202.43.

Insider Activity at GoDaddy

In other news, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total transaction of $91,741.00. Following the completion of the transaction, the director directly owned 12,064 shares in the company, valued at approximately $1,702,712.96. The trade was a 5.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 3,326 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total value of $472,990.46. Following the transaction, the chief financial officer owned 70,133 shares of the company's stock, valued at $9,973,613.93. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,828 shares of company stock worth $5,424,888 in the last three months. 0.70% of the stock is owned by company insiders.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $145.30 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 12 month low of $132.51 and a 12 month high of $216.00. The stock has a 50 day moving average of $154.93 and a 200-day moving average of $170.42. The company has a market capitalization of $20.12 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.61 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the company posted $1.01 EPS. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

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.

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