BlackRock Inc. grew its position in shares of GoDaddy Inc. (NYSE:GDDY) by 33.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,773,646 shares of the technology company’s stock after purchasing an additional 689,501 shares during the period. BlackRock Inc. owned 3.02% of GoDaddy worth $117,659,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors acquired a new position in GoDaddy during the second quarter valued at approximately $8,811,000. Ameriprise Financial Inc. lifted its position in GoDaddy by 273.0% during the second quarter. Ameriprise Financial Inc. now owns 1,241,565 shares of the technology company’s stock valued at $52,668,000 after buying an additional 908,685 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in GoDaddy by 176.4% during the second quarter. TIAA CREF Investment Management LLC now owns 483,978 shares of the technology company’s stock valued at $20,530,000 after buying an additional 308,858 shares in the last quarter. Teachers Advisors LLC lifted its position in GoDaddy by 142.3% during the second quarter. Teachers Advisors LLC now owns 233,796 shares of the technology company’s stock valued at $9,918,000 after buying an additional 137,295 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in GoDaddy during the second quarter valued at approximately $441,000. 78.18% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts have recently issued reports on the stock. William Blair assumed coverage on shares of GoDaddy in a research note on Thursday, October 5th. They set an “outperform” rating on the stock. BidaskClub lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reiterated an “outperform” rating on shares of GoDaddy in a research note on Saturday, August 26th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price objective on shares of GoDaddy in a research note on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of GoDaddy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. GoDaddy currently has an average rating of “Buy” and a consensus price target of $47.46.
Shares of GoDaddy Inc. (NYSE GDDY) opened at 45.75 on Friday. The firm has a market cap of $5.09 billion, a P/E ratio of 360.24 and a beta of 0.62. The company has a 50-day moving average of $44.07 and a 200 day moving average of $44.07. GoDaddy Inc. has a 12-month low of $31.63 and a 12-month high of $46.09.
GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The company had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities analysts predict that GoDaddy Inc. will post $0.30 EPS for the current year.
In other news, EVP Nima Kelly sold 8,112 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $46.00, for a total value of $373,152.00. Following the completion of the sale, the executive vice president now directly owns 37,046 shares of the company’s stock, valued at $1,704,116. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lake Group L.L.C. Silver sold 5,773,272 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $43.71, for a total value of $252,349,719.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,333,060 shares of company stock worth $538,828,169. 22.68% of the stock is owned by company insiders.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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