Comerica Bank lifted its stake in shares of Godaddy Inc (NYSE:GDDY) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,832 shares of the technology company’s stock after buying an additional 842 shares during the quarter. Comerica Bank’s holdings in Godaddy were worth $456,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Select Equity Group L.P. lifted its position in shares of Godaddy by 12.8% during the 1st quarter. Select Equity Group L.P. now owns 5,639,807 shares of the technology company’s stock worth $346,397,000 after buying an additional 641,757 shares during the last quarter. BlackRock Inc. lifted its position in shares of Godaddy by 6.5% during the 1st quarter. BlackRock Inc. now owns 5,357,617 shares of the technology company’s stock worth $329,064,000 after buying an additional 328,605 shares during the last quarter. JPMorgan Chase & Co. raised its position in Godaddy by 3.8% in the 1st quarter. JPMorgan Chase & Co. now owns 5,174,786 shares of the technology company’s stock valued at $317,836,000 after purchasing an additional 190,251 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Godaddy in the 1st quarter valued at $257,700,000. Finally, Franklin Resources Inc. raised its position in Godaddy by 1.3% in the 1st quarter. Franklin Resources Inc. now owns 2,226,887 shares of the technology company’s stock valued at $136,775,000 after purchasing an additional 29,250 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.
Several analysts recently commented on GDDY shares. Royal Bank of Canada upped their price target on shares of Godaddy to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, May 9th. Piper Jaffray Companies upped their price target on shares of Godaddy to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 9th. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Tuesday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Godaddy to $80.00 and gave the company a “neutral” rating in a research report on Friday, August 3rd. Finally, TheStreet downgraded shares of Godaddy from a “b” rating to a “c+” rating in a research report on Thursday, May 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $74.80.
Shares of Godaddy stock opened at $80.74 on Thursday. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 258.52, a PEG ratio of 8.59 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.56. Godaddy Inc has a one year low of $42.19 and a one year high of $81.95.
Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $652.00 million during the quarter, compared to the consensus estimate of $643.59 million. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. Godaddy’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. equities research analysts forecast that Godaddy Inc will post 0.55 earnings per share for the current year.
In other Godaddy news, CFO Raymond E. Winborne, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $76.55, for a total transaction of $3,827,500.00. Following the completion of the transaction, the chief financial officer now owns 101,831 shares in the company, valued at approximately $7,795,163.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nima Kelly sold 8,688 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $80.04, for a total transaction of $695,387.52. Following the transaction, the executive vice president now owns 61,424 shares of the company’s stock, valued at approximately $4,916,376.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,785,557 shares of company stock valued at $588,949,925. 7.63% of the stock is owned by insiders.
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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