Franklin Resources Inc. Trims Stake in Godaddy Inc (NYSE:GDDY)

Franklin Resources Inc. lessened its stake in shares of Godaddy Inc (NYSE:GDDY) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,197,637 shares of the technology company’s stock after selling 32,660 shares during the period. Franklin Resources Inc. owned approximately 1.32% of Godaddy worth $110,497,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Technology Crossover Management VII Ltd. lifted its stake in Godaddy by 263.1% during the 4th quarter. Technology Crossover Management VII Ltd. now owns 25,790,717 shares of the technology company’s stock valued at $1,296,757,000 after acquiring an additional 18,688,095 shares during the period. BlackRock Inc. lifted its stake in Godaddy by 15.0% during the 4th quarter. BlackRock Inc. now owns 5,029,012 shares of the technology company’s stock valued at $252,860,000 after acquiring an additional 654,239 shares during the period. Capital International Investors lifted its stake in Godaddy by 628.1% during the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock valued at $161,665,000 after acquiring an additional 3,205,274 shares during the period. Renaissance Technologies LLC lifted its stake in Godaddy by 26.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,992,900 shares of the technology company’s stock valued at $150,483,000 after acquiring an additional 619,500 shares during the period. Finally, First Trust Advisors LP lifted its stake in Godaddy by 5.2% during the 4th quarter. First Trust Advisors LP now owns 2,770,644 shares of the technology company’s stock valued at $139,308,000 after acquiring an additional 136,115 shares during the period. 86.87% of the stock is currently owned by institutional investors.

In related news, insider Steven Aldrich sold 6,510 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $60.36, for a total value of $392,943.60. Following the completion of the sale, the insider now owns 34,106 shares of the company’s stock, valued at $2,058,638.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Barbara J. Rechterman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $59.95, for a total transaction of $599,500.00. Following the completion of the sale, the insider now directly owns 70,795 shares of the company’s stock, valued at approximately $4,244,160.25. The disclosure for this sale can be found here. Insiders have sold 13,698,000 shares of company stock valued at $809,605,669 in the last ninety days. Insiders own 22.68% of the company’s stock.

Godaddy stock opened at $59.86 on Friday. Godaddy Inc has a 52-week low of $36.02 and a 52-week high of $64.49. The firm has a market cap of $10,171.70, a PE ratio of 142.52, a price-to-earnings-growth ratio of 7.23 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 4.41.

Godaddy (NYSE:GDDY) last released its earnings results on Thursday, February 22nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. Godaddy had a net margin of 6.45% and a return on equity of 9.87%. The business had revenue of $602.20 million during the quarter, compared to analyst estimates of $593.47 million. equities research analysts anticipate that Godaddy Inc will post 0.42 EPS for the current fiscal year.

Several analysts have commented on GDDY shares. Morgan Stanley lifted their price objective on shares of Godaddy from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. B. Riley reiterated a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research note on Wednesday, January 3rd. Wedbush started coverage on shares of Godaddy in a research note on Friday, December 8th. They issued a “neutral” rating and a $52.00 target price for the company. Barclays boosted their target price on shares of Godaddy from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $52.00 target price (up from $44.00) on shares of Godaddy in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.63.

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Godaddy Profile

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.

Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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