Douglas Lane & Associates LLC Sells 55,113 Shares of GoDaddy Inc. (NYSE:GDDY)

Douglas Lane & Associates LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743,090 shares of the technology company's stock after selling 55,113 shares during the quarter. GoDaddy accounts for approximately 2.0% of Douglas Lane & Associates LLC's holdings, making the stock its 7th biggest position. Douglas Lane & Associates LLC owned 0.53% of GoDaddy worth $133,860,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Quent Capital LLC raised its position in shares of GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after buying an additional 53 shares during the last quarter. Advisors Capital Management LLC raised its holdings in GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after acquiring an additional 55 shares in the last quarter. BNP Paribas lifted its position in shares of GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after acquiring an additional 59 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after acquiring an additional 64 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in shares of GoDaddy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock worth $3,708,000 after purchasing an additional 71 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the completion of the sale, the chief executive officer now directly owns 440,947 shares of the company's stock, valued at approximately $84,159,144.42. This represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $182.03, for a total transaction of $91,015.00. Following the sale, the director now owns 20,621 shares in the company, valued at approximately $3,753,640.63. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,526 shares of company stock valued at $10,248,511. Company insiders own 0.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Benchmark restated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Morgan Stanley cut their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

GoDaddy Price Performance

Shares of NYSE:GDDY traded down $1.05 during midday trading on Thursday, reaching $181.24. The company's stock had a trading volume of 1,020,969 shares, compared to its average volume of 1,499,162. The business's fifty day simple moving average is $179.34 and its 200-day simple moving average is $189.45. The company has a market capitalization of $25.82 billion, a P/E ratio of 28.10 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $2.76 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal 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.