Pinebridge Investments L.P. Trims Stake in Godaddy Inc (NYSE:GDDY)

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Pinebridge Investments L.P. lowered its holdings in Godaddy Inc (NYSE:GDDY) by 0.2% during the second quarter, Holdings Channel.com reports. The firm owned 168,173 shares of the technology company’s stock after selling 324 shares during the period. Pinebridge Investments L.P.’s holdings in Godaddy were worth $11,798,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Advisor Group Inc. raised its position in Godaddy by 1.5% in the second quarter. Advisor Group Inc. now owns 10,545 shares of the technology company’s stock valued at $740,000 after purchasing an additional 155 shares during the period. Signaturefd LLC raised its position in Godaddy by 36.0% in the first quarter. Signaturefd LLC now owns 722 shares of the technology company’s stock valued at $54,000 after purchasing an additional 191 shares during the period. World Asset Management Inc raised its position in Godaddy by 3.5% in the second quarter. World Asset Management Inc now owns 5,777 shares of the technology company’s stock valued at $405,000 after purchasing an additional 194 shares during the period. Commonwealth Bank of Australia raised its position in Godaddy by 80.1% in the second quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock valued at $35,000 after purchasing an additional 226 shares during the period. Finally, TD Asset Management Inc. raised its position in Godaddy by 3.4% in the second quarter. TD Asset Management Inc. now owns 7,569 shares of the technology company’s stock valued at $531,000 after purchasing an additional 252 shares during the period. Institutional investors own 96.67% of the company’s stock.

In related news, insider Rebecca Morrow sold 384 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $74.90, for a total transaction of $28,761.60. Following the completion of the transaction, the insider now directly owns 8,316 shares of the company’s stock, valued at approximately $622,868.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Wagner sold 7,606 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $70.10, for a total value of $533,180.60. Following the transaction, the chief executive officer now directly owns 219,804 shares of the company’s stock, valued at $15,408,260.40. The disclosure for this sale can be found here. Insiders sold 25,929 shares of company stock valued at $1,731,946 over the last ninety days. Insiders own 12.64% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine cut Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James dropped their price objective on Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. SunTrust Banks set a $90.00 price objective on Godaddy and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, TheStreet cut Godaddy from a “b” rating to a “c” rating in a research note on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Godaddy currently has an average rating of “Buy” and a consensus target price of $88.89.

Shares of NYSE GDDY traded up $0.44 during trading on Friday, reaching $66.14. The stock had a trading volume of 41,241 shares, compared to its average volume of 1,498,619. Godaddy Inc has a fifty-two week low of $56.67 and a fifty-two week high of $84.97. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50-day moving average price is $66.22 and its 200-day moving average price is $72.68. The company has a market cap of $11.67 billion, a P/E ratio of 104.84, a PEG ratio of 7.40 and a beta of 0.68.

Godaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.04). Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The firm had revenue of $737.20 million during the quarter, compared to analyst estimates of $735.40 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts forecast that Godaddy Inc will post 0.52 EPS for the current fiscal year.

About Godaddy

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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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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