Harvest Fund Management Co. Ltd boosted its holdings in shares of Godaddy Inc (NYSE:GDDY) by 610.3% in the third quarter, HoldingsChannel.com reports. The fund owned 2,678 shares of the technology company’s stock after buying an additional 2,301 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Godaddy were worth $223,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Godaddy by 61.1% in the 2nd quarter. BlackRock Inc. now owns 8,629,570 shares of the technology company’s stock valued at $609,247,000 after buying an additional 3,271,953 shares during the period. Voya Investment Management LLC grew its holdings in shares of Godaddy by 599.6% in the 2nd quarter. Voya Investment Management LLC now owns 1,833,104 shares of the technology company’s stock valued at $129,417,000 after buying an additional 1,571,091 shares during the period. Bank of America Corp DE grew its holdings in shares of Godaddy by 154.4% in the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock valued at $119,738,000 after buying an additional 1,029,426 shares during the period. First Trust Advisors LP grew its holdings in shares of Godaddy by 20.8% in the 2nd quarter. First Trust Advisors LP now owns 3,549,257 shares of the technology company’s stock valued at $250,578,000 after buying an additional 611,798 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Godaddy in the 2nd quarter valued at $31,234,000. 93.64% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GDDY opened at $74.40 on Friday. The firm has a market capitalization of $12.13 billion, a P/E ratio of 177.14, a P/E/G ratio of 7.83 and a beta of 0.63. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73. Godaddy Inc has a 1-year low of $45.87 and a 1-year high of $84.97.
Godaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 2nd. The technology company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The firm had revenue of $652.00 million during the quarter, compared to analyst estimates of $643.59 million. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. Sell-side analysts expect that Godaddy Inc will post 0.53 earnings per share for the current year.
In other Godaddy news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $75.61, for a total transaction of $264,635,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Arne Josefsberg sold 33,803 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $73.45, for a total transaction of $2,482,830.35. Following the sale, the executive vice president now directly owns 33,348 shares in the company, valued at $2,449,410.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,789,360 shares of company stock valued at $589,718,410. Company insiders own 7.63% of the company’s stock.
Several equities analysts have recently issued reports on GDDY shares. Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Tuesday, August 14th. Wedbush reissued a “neutral” rating and issued a $85.00 price target on shares of Godaddy in a report on Thursday, September 13th. Citigroup raised shares of Godaddy from a “neutral” rating to a “buy” rating in a report on Thursday, October 11th. SunTrust Banks reissued a “buy” rating and issued a $87.00 price target on shares of Godaddy in a report on Monday, August 6th. Finally, Barclays boosted their price target on shares of Godaddy from $77.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $77.60.
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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