Daiwa Securities Group Inc. raised its position in shares of Godaddy Inc (NYSE:GDDY) by 511.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 29,952 shares of the technology company’s stock after purchasing an additional 25,052 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Godaddy were worth $2,497,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Godaddy by 61.1% during the 2nd quarter. BlackRock Inc. now owns 8,629,570 shares of the technology company’s stock worth $609,247,000 after buying an additional 3,271,953 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Godaddy by 599.6% during the 2nd quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock worth $129,417,000 after buying an additional 1,571,091 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Godaddy by 154.4% during the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock worth $119,738,000 after buying an additional 1,029,426 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Godaddy by 20.8% during the 2nd quarter. First Trust Advisors LP now owns 3,549,257 shares of the technology company’s stock worth $250,578,000 after buying an additional 611,798 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Godaddy during the 2nd quarter worth approximately $31,234,000. 93.88% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of Godaddy stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $264,635,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Aldrich sold 14,185 shares of Godaddy stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $76.01, for a total value of $1,078,201.85. Following the completion of the sale, the insider now directly owns 41,781 shares of the company’s stock, valued at approximately $3,175,773.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,733,727 shares of company stock valued at $585,453,642. Insiders own 7.63% of the company’s stock.
A number of research firms have issued reports on GDDY. Wedbush restated a “neutral” rating and set a $85.00 price target on shares of Godaddy in a report on Thursday, September 13th. ValuEngine cut Godaddy from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. SunTrust Banks restated a “buy” rating and set a $87.00 price target on shares of Godaddy in a report on Friday, November 2nd. Zacks Investment Research cut Godaddy from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Finally, Morgan Stanley increased their target price on Godaddy from $72.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Godaddy presently has a consensus rating of “Buy” and an average price target of $77.87.
Shares of NYSE:GDDY opened at $64.46 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.56. Godaddy Inc has a 1-year low of $45.87 and a 1-year high of $84.97. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 153.48, a P/E/G ratio of 8.06 and a beta of 0.84.
Godaddy (NYSE:GDDY) last announced its earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.10). Godaddy had a net margin of 4.96% and a return on equity of 8.42%. The business had revenue of $679.50 million for the quarter, compared to analysts’ expectations of $673.79 million. During the same period in the prior year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Godaddy Inc will post 0.53 earnings per share for the current year.
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GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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