Franklin Resources Inc. boosted its stake in shares of Godaddy Inc (NYSE:GDDY) by 9.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,013,857 shares of the technology company’s stock after acquiring an additional 179,910 shares during the quarter. Franklin Resources Inc. owned 1.17% of Godaddy worth $167,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC bought a new position in Godaddy during the 3rd quarter valued at approximately $150,000. Korea Investment CORP bought a new position in Godaddy during the 3rd quarter valued at approximately $153,000. FDx Advisors Inc. bought a new position in Godaddy during the 3rd quarter valued at approximately $202,000. IBM Retirement Fund bought a new position in Godaddy during the 3rd quarter valued at approximately $218,000. Finally, Harvest Fund Management Co. Ltd increased its position in Godaddy by 610.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,678 shares of the technology company’s stock valued at $223,000 after buying an additional 2,301 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.
GDDY stock opened at $65.26 on Monday. The firm has a market capitalization of $11.32 billion, a PE ratio of 155.38, a PEG ratio of 11.32 and a beta of 0.80. Godaddy Inc has a 1 year low of $45.87 and a 1 year high of $84.97. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 3.29.
Godaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). The firm had revenue of $679.50 million during the quarter, compared to analysts’ expectations of $673.79 million. Godaddy had a return on equity of 8.01% and a net margin of 4.96%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, equities research analysts expect that Godaddy Inc will post 0.34 earnings per share for the current fiscal year.
In other news, insider Steven Aldrich sold 25,000 shares of Godaddy stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $83.06, for a total value of $2,076,500.00. Following the sale, the insider now directly owns 52,596 shares of the company’s stock, valued at $4,368,623.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 1,200 shares of Godaddy stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $81.94, for a total value of $98,328.00. Following the completion of the sale, the director now directly owns 14,982 shares in the company, valued at $1,227,625.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,961 shares of company stock worth $8,571,229. Insiders own 7.63% of the company’s stock.
A number of research analysts recently weighed in on GDDY shares. Citigroup raised Godaddy from a “neutral” rating to a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research raised Godaddy from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, October 1st. TheStreet lowered Godaddy from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. SunTrust Banks reaffirmed a “buy” rating and set a $87.00 price objective on shares of Godaddy in a research report on Friday, November 2nd. Finally, Morgan Stanley raised their price objective on Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Godaddy has a consensus rating of “Buy” and a consensus target price of $78.07.
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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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