Engle Capital Management L.P. reduced its stake in shares of Godaddy Inc (NYSE:GDDY) by 10.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the technology company’s stock after selling 30,000 shares during the period. Godaddy accounts for about 7.8% of Engle Capital Management L.P.’s portfolio, making the stock its 3rd largest holding. Engle Capital Management L.P. owned approximately 0.15% of Godaddy worth $17,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of GDDY. LS Investment Advisors LLC acquired a new position in Godaddy in the second quarter valued at approximately $138,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Godaddy in the second quarter valued at approximately $169,000. Itau Unibanco Holding S.A. acquired a new position in Godaddy in the second quarter valued at approximately $189,000. Redpoint Investment Management Pty Ltd acquired a new position in Godaddy in the second quarter valued at approximately $221,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Godaddy in the second quarter valued at approximately $231,000. Institutional investors and hedge funds own 93.61% of the company’s stock.
In other news, EVP Nima Kelly sold 661 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $72.16, for a total transaction of $47,697.76. Following the sale, the executive vice president now owns 53,312 shares of the company’s stock, valued at $3,846,993.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 75,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $78.33, for a total value of $5,874,750.00. Following the sale, the chief financial officer now directly owns 101,831 shares in the company, valued at approximately $7,976,422.23. The disclosure for this sale can be found here. In the last three months, insiders sold 7,784,357 shares of company stock worth $588,861,593. 7.63% of the stock is owned by corporate insiders.
Shares of NYSE GDDY opened at $79.34 on Thursday. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 262.77, a PEG ratio of 8.73 and a beta of 0.63. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.73 and a current ratio of 0.73. Godaddy Inc has a 52-week low of $42.54 and a 52-week high of $82.05.
Godaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 2nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $652.00 million for the quarter, compared to analyst estimates of $643.59 million. Godaddy had a return on equity of 8.78% and a net margin of 5.83%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. analysts predict that Godaddy Inc will post 0.55 earnings per share for the current fiscal year.
GDDY has been the topic of a number of recent analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $87.00 price objective on shares of Godaddy in a report on Monday, August 6th. Barclays upped their price objective on Godaddy from $77.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, July 23rd. Oppenheimer upped their price objective on Godaddy from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, May 9th. Zacks Investment Research cut Godaddy from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Morgan Stanley upped their price objective on Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Godaddy currently has a consensus rating of “Buy” and an average price target of $74.80.
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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