Northern Trust Corp raised its holdings in shares of Godaddy Inc (NYSE:GDDY) by 49.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 859,268 shares of the technology company’s stock after purchasing an additional 283,722 shares during the period. Northern Trust Corp owned 0.50% of Godaddy worth $60,664,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. LS Investment Advisors LLC bought a new stake in shares of Godaddy in the 2nd quarter valued at about $138,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Godaddy in the 2nd quarter valued at about $169,000. Itau Unibanco Holding S.A. bought a new stake in shares of Godaddy in the 2nd quarter valued at about $189,000. Redpoint Investment Management Pty Ltd bought a new stake in shares of Godaddy in the 2nd quarter valued at about $221,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of Godaddy in the 2nd quarter valued at about $229,000. Institutional investors own 93.61% of the company’s stock.
GDDY has been the subject of a number of recent analyst reports. TheStreet raised Godaddy from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. SunTrust Banks upped their price target on Godaddy to $87.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research raised Godaddy from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Wednesday, July 25th. JPMorgan Chase & Co. upped their price target on Godaddy to $80.00 and gave the company a “neutral” rating in a research note on Friday, August 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Godaddy in a research note on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $77.60.
In other news, insider Steven Aldrich sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $83.06, for a total transaction of $2,076,500.00. Following the completion of the transaction, the insider now directly owns 52,596 shares of the company’s stock, valued at approximately $4,368,623.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arne Josefsberg sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $80.28, for a total transaction of $3,612,600.00. Following the transaction, the executive vice president now directly owns 31,545 shares of the company’s stock, valued at $2,532,432.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,799,357 shares of company stock valued at $590,669,752. 7.63% of the stock is owned by company insiders.
NYSE GDDY opened at $75.97 on Tuesday. Godaddy Inc has a 52-week low of $43.40 and a 52-week high of $84.97. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $14.37 billion, a P/E ratio of 180.88, a price-to-earnings-growth ratio of 8.93 and a beta of 0.63.
Godaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Godaddy had a return on equity of 8.78% and a net margin of 5.83%. The business had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $643.59 million. During the same period in the prior year, the business earned $0.10 EPS. Godaddy’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, sell-side analysts expect that Godaddy Inc will post 0.55 earnings per share for the current year.
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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