BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Godaddy Inc (NYSE:GDDY) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,688 shares of the technology company’s stock after acquiring an additional 6,256 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Godaddy were worth $2,736,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GDDY. Csenge Advisory Group acquired a new stake in Godaddy in the third quarter worth about $62,000. Parallel Advisors LLC boosted its holdings in Godaddy by 15.8% in the fourth quarter. Parallel Advisors LLC now owns 1,516 shares of the technology company’s stock worth $99,000 after acquiring an additional 207 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Godaddy in the third quarter worth about $150,000. Korea Investment CORP acquired a new stake in Godaddy in the third quarter worth about $153,000. Finally, FDx Advisors Inc. acquired a new stake in Godaddy in the third quarter worth about $202,000. 98.94% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. TheStreet raised Godaddy from a “c+” rating to a “b” rating in a report on Thursday, February 21st. Barclays lifted their target price on Godaddy from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, February 21st. Morgan Stanley lifted their target price on Godaddy from $88.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, February 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $97.00 target price on shares of Godaddy in a report on Thursday, February 21st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their target price on Godaddy to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $85.17.
In related news, CAO Rebecca Morrow sold 633 shares of Godaddy stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $75.14, for a total transaction of $47,563.62. Following the completion of the transaction, the chief accounting officer now directly owns 8,079 shares in the company, valued at $607,056.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arne Josefsberg sold 7,572 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $59.11, for a total value of $447,580.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,438 shares of company stock valued at $16,705,911. 7.63% of the stock is owned by company insiders.
Shares of GDDY stock opened at $75.39 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $13.16 billion, a P/E ratio of 119.67, a P/E/G ratio of 5.37 and a beta of 0.66. Godaddy Inc has a twelve month low of $56.67 and a twelve month high of $84.97.
Godaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, February 20th. The technology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.15. The company had revenue of $696.00 million during the quarter, compared to analysts’ expectations of $693.41 million. Godaddy had a return on equity of 11.91% and a net margin of 2.90%. Godaddy’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. As a group, equities analysts predict that Godaddy Inc will post 0.82 earnings per share for the current year.
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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