Marshall Wace North America L.P. cut its holdings in shares of Godaddy Inc (NYSE:GDDY) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,111,708 shares of the technology company’s stock after selling 62,349 shares during the period. Marshall Wace North America L.P.’s holdings in Godaddy were worth $92,705,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of GDDY. Bank of Montreal Can acquired a new stake in Godaddy in the second quarter worth approximately $3,130,000. BNP Paribas Arbitrage SA lifted its position in Godaddy by 3,069.9% in the second quarter. BNP Paribas Arbitrage SA now owns 17,276 shares of the technology company’s stock worth $1,220,000 after purchasing an additional 16,731 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Godaddy by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 223,558 shares of the technology company’s stock worth $15,783,000 after purchasing an additional 18,801 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Godaddy in the second quarter worth approximately $346,000. Finally, Aperio Group LLC lifted its position in Godaddy by 25.5% in the second quarter. Aperio Group LLC now owns 17,480 shares of the technology company’s stock worth $1,234,000 after purchasing an additional 3,551 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.
Shares of NYSE GDDY traded up $1.09 during trading on Thursday, hitting $65.88. The company had a trading volume of 1,694,172 shares, compared to its average volume of 1,706,381. The stock has a market capitalization of $11.24 billion, a P/E ratio of 156.86, a P/E/G ratio of 11.24 and a beta of 0.79. Godaddy Inc has a 52 week low of $46.68 and a 52 week high of $84.97. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.71 and a current ratio of 0.71.
Godaddy (NYSE:GDDY) last announced its earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.10). Godaddy had a net margin of 4.96% and a return on equity of 8.01%. The firm had revenue of $679.50 million for the quarter, compared to analyst estimates of $673.79 million. During the same period last year, the firm earned $0.17 earnings per share. Godaddy’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, research analysts forecast that Godaddy Inc will post 0.34 earnings per share for the current year.
In other Godaddy news, EVP Nima Kelly sold 661 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $80.41, for a total transaction of $53,151.01. Following the sale, the executive vice president now directly owns 52,075 shares of the company’s stock, valued at approximately $4,187,350.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arne Josefsberg sold 45,000 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $80.28, for a total transaction of $3,612,600.00. Following the sale, the executive vice president now directly owns 31,545 shares in the company, valued at $2,532,432.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,761 shares of company stock worth $8,474,173. Company insiders own 7.63% of the company’s stock.
GDDY has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Godaddy from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Monday, October 1st. Citigroup raised Godaddy from a “neutral” rating to a “buy” rating in a report on Thursday, October 11th. Morgan Stanley set a $85.00 price target on Godaddy and gave the company a “buy” rating in a report on Wednesday, November 7th. TheStreet cut Godaddy from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $78.07.
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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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