Paloma Partners Management Co boosted its holdings in shares of Godaddy Inc (NYSE:GDDY) by 662.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,521 shares of the technology company’s stock after purchasing an additional 69,958 shares during the period. Paloma Partners Management Co’s holdings in Godaddy were worth $5,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of GDDY. Eminence Capital LP acquired a new position in shares of Godaddy in the second quarter worth about $103,895,000. Man Group plc raised its position in shares of Godaddy by 302.0% in the second quarter. Man Group plc now owns 221,163 shares of the technology company’s stock worth $15,515,000 after acquiring an additional 166,153 shares during the period. Petrus Trust Company LTA raised its position in shares of Godaddy by 60.4% in the second quarter. Petrus Trust Company LTA now owns 5,510 shares of the technology company’s stock worth $387,000 after acquiring an additional 2,074 shares during the period. White Elm Capital LLC raised its position in shares of Godaddy by 6.4% in the second quarter. White Elm Capital LLC now owns 251,873 shares of the technology company’s stock worth $17,669,000 after acquiring an additional 15,200 shares during the period. Finally, Private Advisor Group LLC acquired a new position in shares of Godaddy in the second quarter worth about $238,000. Institutional investors own 96.56% of the company’s stock.
In other news, Director Brian Sharples sold 850 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $65.73, for a total transaction of $55,870.50. Following the completion of the sale, the director now owns 12,648 shares of the company’s stock, valued at $831,353.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nima Kelly sold 1,160 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $65.52, for a total transaction of $76,003.20. Following the sale, the insider now directly owns 123,262 shares of the company’s stock, valued at approximately $8,076,126.24. The disclosure for this sale can be found here. Insiders have sold 23,978 shares of company stock valued at $1,667,026 in the last three months. Corporate insiders own 12.64% of the company’s stock.
A number of research analysts have weighed in on GDDY shares. ValuEngine downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price objective on shares of Godaddy in a research report on Tuesday. Finally, Raymond James cut their target price on shares of Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $89.38.
Shares of GDDY stock traded down $0.32 on Friday, reaching $66.77. 34,978 shares of the company were exchanged, compared to its average volume of 1,388,991. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 105.83, a P/E/G ratio of 7.59 and a beta of 0.68. The business has a 50-day moving average price of $65.10 and a 200 day moving average price of $72.36. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85. Godaddy Inc has a 1 year low of $56.67 and a 1 year high of $84.97.
Godaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $737.20 million for the quarter, compared to analysts’ expectations of $735.40 million. Godaddy had a return on equity of 11.44% and a net margin of 1.98%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. As a group, equities analysts anticipate that Godaddy Inc will post 0.48 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. 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.
Read More: Capital gains and your 401(k) or IRA
Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Godaddy Inc (NYSE:GDDY).
Receive News & Ratings for Godaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Godaddy and related companies with MarketBeat.com's FREE daily email newsletter.