Invesco Ltd. Grows Position in GoDaddy Inc. (NYSE:GDDY)

Invesco Ltd. raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,285 shares of the technology company’s stock after buying an additional 11,322 shares during the quarter. Invesco Ltd. owned about 0.11% of GoDaddy worth $15,677,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Boston Financial Mangement LLC grew its holdings in shares of GoDaddy by 3.7% during the second quarter. Boston Financial Mangement LLC now owns 242,110 shares of the technology company’s stock worth $21,054,000 after buying an additional 8,615 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of GoDaddy by 8.1% in the second quarter. New York State Common Retirement Fund now owns 556,145 shares of the technology company’s stock valued at $48,362,000 after purchasing an additional 41,726 shares during the period. Rathbone Brothers plc grew its holdings in shares of GoDaddy by 4.0% in the second quarter. Rathbone Brothers plc now owns 426,691 shares of the technology company’s stock valued at $37,105,000 after purchasing an additional 16,285 shares during the period. Soros Capital Management LLC purchased a new stake in shares of GoDaddy in the second quarter valued at about $19,794,000. Finally, Ingalls & Snyder LLC grew its holdings in shares of GoDaddy by 2.1% in the second quarter. Ingalls & Snyder LLC now owns 17,855 shares of the technology company’s stock valued at $1,553,000 after purchasing an additional 369 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on GDDY. Rosenblatt Securities lowered shares of GoDaddy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $85.00 in a report on Thursday, August 5th. Berenberg Bank started coverage on shares of GoDaddy in a research report on Monday, October 25th. They issued a “buy” rating and a $99.00 target price on the stock. Zacks Investment Research cut shares of GoDaddy from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a research report on Friday, November 5th. Raymond James decreased their target price on shares of GoDaddy from $108.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 4th. Finally, Wedbush upped their target price on shares of GoDaddy from $92.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Buy” and an average price target of $97.54.

In related news, CEO Amanpal Singh Bhutani sold 3,034 shares of the firm’s stock in a transaction that occurred on Monday, October 4th. The shares were sold at an average price of $69.99, for a total value of $212,349.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Robel sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $74.16, for a total transaction of $2,224,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,168 shares of company stock worth $2,446,358. 0.38% of the stock is owned by corporate insiders.

Shares of GDDY opened at $67.77 on Thursday. The stock has a market capitalization of $11.29 billion, a PE ratio of 51.34, a P/E/G ratio of 3.69 and a beta of 0.97. GoDaddy Inc. has a 1 year low of $65.70 and a 1 year high of $93.75. The company’s 50-day simple moving average is $70.37 and its 200-day simple moving average is $76.87.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, November 3rd. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.23. GoDaddy had a net margin of 6.15% and a negative return on equity of 419.14%. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, equities research analysts forecast that GoDaddy Inc. will post 1.29 EPS for the current year.

GoDaddy Profile

GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons on January 1997 and is headquartered in Scottsdale, AZ.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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