Bank of New York Mellon Corp increased its position in Godaddy Inc (NYSE:GDDY) by 27.3% in the second quarter, HoldingsChannel.com reports. The fund owned 579,635 shares of the technology company’s stock after acquiring an additional 124,291 shares during the quarter. Bank of New York Mellon Corp’s holdings in Godaddy were worth $40,922,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in Godaddy by 30.4% in the second quarter. Amalgamated Bank now owns 35,017 shares of the technology company’s stock valued at $2,472,000 after purchasing an additional 8,157 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Godaddy in the second quarter valued at approximately $346,000. Oppenheimer Asset Management Inc. raised its stake in Godaddy by 161.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 25,463 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 15,741 shares in the last quarter. Addison Capital Co purchased a new stake in Godaddy in the second quarter valued at approximately $445,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Godaddy in the second quarter valued at approximately $169,000. Institutional investors own 93.61% of the company’s stock.
GDDY stock opened at $79.45 on Friday. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 189.17, a price-to-earnings-growth ratio of 8.73 and a beta of 0.63. Godaddy Inc has a one year low of $42.54 and a one year high of $82.05. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.56.
Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $652.00 million for 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%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. analysts anticipate that Godaddy Inc will post 0.55 EPS for the current year.
In related news, EVP Arne Josefsberg sold 45,000 shares of Godaddy stock in a transaction on Monday, June 25th. The shares were sold at an average price of $70.93, for a total value of $3,191,850.00. Following the transaction, the executive vice president now directly owns 28,348 shares of the company’s stock, valued at $2,010,723.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 1,200 shares of Godaddy stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $80.88, for a total transaction of $97,056.00. Following the completion of the transaction, the director now directly owns 16,182 shares in the company, valued at $1,308,800.16. The disclosure for this sale can be found here. Insiders have sold 7,784,896 shares of company stock worth $588,910,951 over the last three months. Insiders own 7.63% of the company’s stock.
GDDY has been the topic of a number of recent analyst reports. SunTrust Banks reaffirmed a “buy” rating and issued a $87.00 target price on shares of Godaddy in a research note on Monday, August 6th. Barclays raised their target price on shares of Godaddy from $77.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, July 23rd. Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Tuesday, August 14th. Morgan Stanley raised their target price on shares of Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. Finally, TheStreet raised shares of Godaddy from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Godaddy has a consensus rating of “Buy” and a consensus target price 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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