State of Alaska Department of Revenue boosted its stake in Godaddy Inc (NYSE:GDDY) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,773 shares of the technology company’s stock after purchasing an additional 161 shares during the quarter. State of Alaska Department of Revenue’s holdings in Godaddy were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nordea Investment Management AB raised its stake in Godaddy by 3.1% in the third quarter. Nordea Investment Management AB now owns 5,392 shares of the technology company’s stock valued at $449,000 after purchasing an additional 161 shares in the last quarter. Csenge Advisory Group purchased a new stake in Godaddy in the third quarter valued at approximately $62,000. Federated Investors Inc. PA raised its stake in Godaddy by 31.6% in the third quarter. Federated Investors Inc. PA now owns 1,860,565 shares of the technology company’s stock valued at $155,152,000 after purchasing an additional 446,520 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in Godaddy in the third quarter valued at approximately $566,000. Finally, Vanguard Group Inc raised its stake in Godaddy by 12.0% in the third quarter. Vanguard Group Inc now owns 13,874,432 shares of the technology company’s stock valued at $1,156,988,000 after purchasing an additional 1,486,378 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on GDDY shares. Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Monday, October 1st. ValuEngine cut shares of Godaddy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Citigroup upgraded shares of Godaddy from a “neutral” rating to a “buy” rating in a research report on Thursday, October 11th. Wedbush reiterated a “neutral” rating on shares of Godaddy in a research report on Wednesday, October 24th. Finally, TheStreet cut shares of Godaddy from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $78.07.
In related news, Director Brian Sharples sold 1,200 shares of Godaddy stock in a transaction on Monday, November 5th. The shares were sold at an average price of $73.47, for a total value of $88,164.00. Following the sale, the director now owns 13,782 shares in the company, valued at $1,012,563.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Wagner sold 28,744 shares of Godaddy stock in a transaction on Thursday, January 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,744,473.36. Following the completion of the sale, the chief executive officer now owns 156,607 shares in the company, valued at approximately $9,504,478.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,038 shares of company stock worth $4,943,679. 7.63% of the stock is currently owned by company insiders.
Shares of Godaddy stock opened at $65.31 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 3.29. Godaddy Inc has a 52-week low of $50.29 and a 52-week high of $84.97. The company has a market capitalization of $11.33 billion, a PE ratio of 204.09, a PEG ratio of 4.65 and a beta of 0.67.
Godaddy (NYSE:GDDY) last issued 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). The firm had revenue of $679.50 million during the quarter, compared to the consensus estimate of $673.79 million. Godaddy had a return on equity of 8.01% and a net margin of 4.96%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. As a group, analysts predict that Godaddy Inc will post 0.34 EPS for the current year.
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Godaddy Company Profile
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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