State Board of Administration of Florida Retirement System increased its stake in GoDaddy (NYSE:GDDY) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,795 shares of the technology company’s stock after acquiring an additional 2,961 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.07% of GoDaddy worth $7,665,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Technology Crossover Management VII Ltd. lifted its stake in GoDaddy by 263.1% in the fourth quarter. Technology Crossover Management VII Ltd. now owns 25,790,717 shares of the technology company’s stock worth $1,296,757,000 after purchasing an additional 18,688,095 shares during the last quarter. BlackRock Inc. lifted its stake in GoDaddy by 15.0% in the fourth quarter. BlackRock Inc. now owns 5,029,012 shares of the technology company’s stock worth $252,860,000 after purchasing an additional 654,239 shares during the last quarter. Renaissance Technologies LLC lifted its stake in GoDaddy by 26.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,992,900 shares of the technology company’s stock worth $150,483,000 after purchasing an additional 619,500 shares during the last quarter. First Trust Advisors LP lifted its stake in GoDaddy by 5.2% in the fourth quarter. First Trust Advisors LP now owns 2,770,644 shares of the technology company’s stock worth $139,308,000 after purchasing an additional 136,115 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in GoDaddy by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,612,603 shares of the technology company’s stock worth $81,082,000 after purchasing an additional 14,245 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.
GoDaddy opened at $70.79 on Tuesday, MarketBeat reports. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.04. GoDaddy has a fifty-two week low of $40.22 and a fifty-two week high of $71.81. The company has a market cap of $12.19 billion, a PE ratio of 168.55, a P/E/G ratio of 8.55 and a beta of 0.55.
GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $622.54 million. GoDaddy had a net margin of 6.18% and a return on equity of 11.05%. GoDaddy’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. sell-side analysts predict that GoDaddy will post 0.42 EPS for the current year.
In related news, insider Barbara J. Rechterman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $69.29, for a total value of $692,900.00. Following the completion of the transaction, the insider now owns 70,795 shares of the company’s stock, valued at $4,905,385.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raymond E. Winborne, Jr. sold 13,203 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $60.36, for a total transaction of $796,933.08. Following the completion of the transaction, the chief financial officer now directly owns 65,034 shares of the company’s stock, valued at approximately $3,925,452.24. The disclosure for this sale can be found here. Insiders sold 13,625,305 shares of company stock valued at $808,225,673 in the last three months. 7.63% of the stock is currently owned by insiders.
GDDY has been the subject of several analyst reports. Goldman Sachs initiated coverage on shares of GoDaddy in a research note on Friday, March 23rd. They issued a “buy” rating for the company. Barclays raised their price objective on shares of GoDaddy from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. William Blair reissued a “buy” rating on shares of GoDaddy in a research note on Monday, April 2nd. B. Riley raised their price objective on shares of GoDaddy from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Zacks Investment Research downgraded shares of GoDaddy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $66.93.
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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