Sumitomo Mitsui Trust Holdings Inc. raised its stake in Godaddy Inc (NYSE:GDDY) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,022 shares of the technology company’s stock after acquiring an additional 51,658 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.45% of Godaddy worth $54,779,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of GDDY. Capital International Investors grew its holdings in Godaddy by 4.9% during the first quarter. Capital International Investors now owns 7,714,470 shares of the technology company’s stock valued at $440,580,000 after purchasing an additional 361,238 shares during the period. State Street Corp grew its holdings in Godaddy by 1.8% during the first quarter. State Street Corp now owns 3,792,082 shares of the technology company’s stock valued at $216,566,000 after purchasing an additional 67,081 shares during the period. BlueSpruce Investments LP lifted its stake in Godaddy by 9.3% in the first quarter. BlueSpruce Investments LP now owns 3,781,580 shares of the technology company’s stock valued at $215,966,000 after buying an additional 320,550 shares in the last quarter. First Trust Advisors LP lifted its stake in Godaddy by 13.1% in the first quarter. First Trust Advisors LP now owns 2,720,819 shares of the technology company’s stock valued at $155,386,000 after buying an additional 315,350 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Godaddy by 4.4% in the first quarter. Geode Capital Management LLC now owns 1,849,189 shares of the technology company’s stock valued at $105,511,000 after buying an additional 78,624 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.
A number of research analysts have weighed in on the stock. TheStreet lowered shares of Godaddy from a “b-” rating to a “c+” rating in a research note on Tuesday, July 28th. Oppenheimer reissued a “buy” rating on shares of Godaddy in a research report on Thursday, May 7th. Jefferies Financial Group boosted their price objective on shares of Godaddy from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Raymond James upped their price target on shares of Godaddy from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Barclays upped their price target on shares of Godaddy from $73.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Godaddy has a consensus rating of “Buy” and an average price target of $84.42.
GDDY stock opened at $70.28 on Friday. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.64 and a current ratio of 0.64. The company’s 50-day simple moving average is $72.83 and its 200 day simple moving average is $69.32. Godaddy Inc has a 52 week low of $40.25 and a 52 week high of $84.49. The company has a market capitalization of $11.70 billion, a PE ratio of 62.19, a price-to-earnings-growth ratio of 2.98 and a beta of 0.90.
Godaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.06. Godaddy had a net margin of 5.44% and a return on equity of 27.82%. The business had revenue of $792.00 million for the quarter, compared to the consensus estimate of $789.80 million. During the same period in the prior year, the company posted $0.07 earnings per share. Godaddy’s revenue was up 11.5% compared to the same quarter last year. On average, analysts forecast that Godaddy Inc will post 1.03 EPS for the current year.
In related news, COO Ah Kee Andrew Low sold 72,526 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $79.99, for a total transaction of $5,801,354.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Raymond E. Winborne, Jr. sold 15,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the chief financial officer now directly owns 175,376 shares of the company’s stock, valued at approximately $13,153,200. The disclosure for this sale can be found here. Insiders have sold 199,159 shares of company stock valued at $15,553,567 in the last ninety days. 0.52% of the stock is currently owned by company insiders.
Godaddy Company Profile
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals 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; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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