Highland Capital Management LLC Takes $1.13 Million Position in GoDaddy Inc. (NYSE:GDDY)

Highland Capital Management LLC acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,221 shares of the technology company’s stock, valued at approximately $1,132,000.

A number of other large investors have also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after purchasing an additional 67 shares during the period. Whittier Trust Co. increased its position in GoDaddy by 4.3% in the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after buying an additional 74 shares during the period. Sivia Capital Partners LLC lifted its stake in GoDaddy by 3.9% in the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after buying an additional 113 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of GoDaddy by 7.6% during the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock valued at $292,000 after acquiring an additional 131 shares during the period. Finally, Signaturefd LLC grew its position in shares of GoDaddy by 6.3% during the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of several recent research reports. B. Riley lifted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird raised their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

Insider Buying and Selling

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the sale, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the completion of the sale, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,744 shares of company stock worth $5,114,931 in the last three months. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $160.53 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a 50-day moving average of $159.26 and a 200-day moving average of $145.92. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 12.83 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. Analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

GoDaddy 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.