Douglas Lane & Associates LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 839,397 shares of the technology company’s stock, valued at approximately $69,628,000. Douglas Lane & Associates LLC owned about 0.50% of GoDaddy as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. NEXT Financial Group Inc bought a new stake in shares of GoDaddy during the third quarter valued at approximately $26,000. Ninety One SA PTY Ltd purchased a new stake in shares of GoDaddy during the 3rd quarter valued at about $62,000. Cornerstone Advisors Inc. increased its holdings in GoDaddy by 19.8% during the third quarter. Cornerstone Advisors Inc. now owns 1,021 shares of the technology company’s stock valued at $78,000 after buying an additional 169 shares during the last quarter. IFP Advisors Inc raised its position in GoDaddy by 43.6% in the third quarter. IFP Advisors Inc now owns 1,414 shares of the technology company’s stock worth $106,000 after acquiring an additional 429 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of GoDaddy during the 3rd quarter worth $193,000. 87.11% of the stock is currently owned by institutional investors.
Shares of NYSE:GDDY traded up $0.58 during midday trading on Thursday, hitting $82.40. The stock had a trading volume of 6,541 shares, compared to its average volume of 1,003,074. The stock has a 50 day moving average price of $83.20 and a two-hundred day moving average price of $77.19. GoDaddy Inc. has a 1 year low of $40.25 and a 1 year high of $91.81. The company has a market capitalization of $13.92 billion, a PE 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.
A number of research firms recently commented on GDDY. Wedbush reissued a “buy” rating on shares of GoDaddy in a report on Friday, September 18th. Rosenblatt Securities upped their target price on shares of GoDaddy from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Zacks Investment Research downgraded GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a report on Friday, November 6th. Piper Sandler boosted their price objective on shares of GoDaddy from $86.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Finally, Oppenheimer lifted their price objective on GoDaddy from $83.00 to $92.00 in a 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 stock. GoDaddy currently has a consensus rating of “Buy” and an average target price of $92.87.
In related news, 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 of the company’s stock, valued at approximately $413,031.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raymond E. Winborne, Jr. sold 68,900 shares of the business’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $75.00, for a total value of $5,167,500.00. Following the transaction, the chief financial officer now owns 227,454 shares of the company’s stock, valued at approximately $17,059,050. The disclosure for this sale can be found here. Insiders have sold a total of 145,617 shares of company stock worth $11,376,653 over the last 90 days. 0.52% of the stock is owned by company insiders.
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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