Westfield Capital Management Co. LP boosted its holdings in Godaddy Inc (NYSE:GDDY) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 655,419 shares of the technology company’s stock after acquiring an additional 16,409 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Godaddy were worth $49,281,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc raised its holdings in Godaddy by 12.0% in the third quarter. Vanguard Group Inc now owns 13,874,432 shares of the technology company’s stock worth $1,156,988,000 after purchasing an additional 1,486,378 shares during the period. BlackRock Inc. raised its holdings in Godaddy by 15.7% in the first quarter. BlackRock Inc. now owns 11,596,746 shares of the technology company’s stock worth $871,958,000 after purchasing an additional 1,576,019 shares during the period. Lunia Capital LP raised its holdings in Godaddy by 5,352.6% in the fourth quarter. Lunia Capital LP now owns 10,922,121 shares of the technology company’s stock worth $10,922,000 after purchasing an additional 10,721,812 shares during the period. Janus Henderson Group PLC raised its holdings in Godaddy by 7.4% in the first quarter. Janus Henderson Group PLC now owns 7,932,555 shares of the technology company’s stock worth $596,449,000 after purchasing an additional 546,497 shares during the period. Finally, Brahman Capital Corp. raised its holdings in Godaddy by 22.8% in the fourth quarter. Brahman Capital Corp. now owns 3,367,519 shares of the technology company’s stock worth $220,977,000 after purchasing an additional 624,221 shares during the period. Institutional investors and hedge funds own 97.56% of the company’s stock.
Several brokerages have recently issued reports on GDDY. ValuEngine downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet downgraded shares of Godaddy from a “b” rating to a “c” rating in a research report on Tuesday, May 21st. Barclays reissued a “buy” rating and set a $90.00 price objective on shares of Godaddy in a research report on Monday, May 6th. Morgan Stanley set a $95.00 price objective on shares of Godaddy and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $89.25.
In related news, insider Nima Kelly sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $79.48, for a total value of $79,480.00. Following the completion of the transaction, the insider now owns 119,451 shares of the company’s stock, valued at $9,493,965.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James M. Carroll sold 52,042 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $78.01, for a total transaction of $4,059,796.42. Following the completion of the transaction, the insider now directly owns 99,818 shares of the company’s stock, valued at approximately $7,786,802.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,970 shares of company stock valued at $12,949,285. 12.64% of the stock is owned by insiders.
Godaddy stock traded down $1.56 during mid-day trading on Friday, reaching $69.49. The company’s stock had a trading volume of 28,693 shares, compared to its average volume of 1,163,272. The company has a market cap of $12.72 billion, a P/E ratio of 110.35, a price-to-earnings-growth ratio of 5.79 and a beta of 0.75. Godaddy Inc has a 12 month low of $56.67 and a 12 month high of $84.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.72.
Godaddy (NYSE:GDDY) last released its earnings results on Thursday, May 2nd. The technology company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $710.00 million during the quarter, compared to the consensus estimate of $711.18 million. Godaddy had a net margin of 3.17% and a return on equity of 11.89%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. On average, equities research analysts forecast that Godaddy Inc will post 0.73 EPS for the current year.
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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. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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