Douglas Lane & Associates LLC Trims Stake in GoDaddy Inc. $GDDY

Douglas Lane & Associates LLC reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 668,472 shares of the technology company’s stock after selling 22,113 shares during the quarter. GoDaddy accounts for about 1.3% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 19th largest position. Douglas Lane & Associates LLC’s holdings in GoDaddy were worth $91,467,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Bayforest Capital Ltd purchased a new position in shares of GoDaddy during the second quarter worth about $26,000. NewSquare Capital LLC lifted its position in GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Banque Transatlantique SA bought a new stake in GoDaddy during the first quarter valued at approximately $36,000. Steph & Co. purchased a new position in GoDaddy in the 2nd quarter worth approximately $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of GoDaddy by 252.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 345 shares of the technology company’s stock worth $62,000 after buying an additional 247 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the transaction, the director owned 19,957 shares in the company, valued at approximately $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,615 shares of company stock valued at $1,877,942 in the last three months. Corporate insiders own 0.70% of the company’s stock.

GoDaddy Stock Up 0.5%

GDDY opened at $127.35 on Friday. GoDaddy Inc. has a 12 month low of $121.94 and a 12 month high of $216.00. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The business’s 50-day moving average price is $129.02 and its 200-day moving average price is $147.47. The company has a market cap of $17.21 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.42 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $1.32 EPS. GoDaddy’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

GDDY has been the subject of a number of research analyst reports. UBS Group dropped their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. B. Riley lowered their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price target on shares of GoDaddy in a research note on Friday, October 31st. Evercore ISI reduced their price objective on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.14.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.