Spyglass Capital Management LLC boosted its stake in Godaddy Inc (NYSE:GDDY) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,371 shares of the technology company’s stock after purchasing an additional 37,768 shares during the period. Godaddy comprises about 4.5% of Spyglass Capital Management LLC’s holdings, making the stock its 9th largest holding. Spyglass Capital Management LLC owned about 0.11% of Godaddy worth $14,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. bought a new position in shares of Godaddy during the second quarter valued at about $27,000. Berman Capital Advisors LLC increased its position in Godaddy by 205.4% during the 1st quarter. Berman Capital Advisors LLC now owns 452 shares of the technology company’s stock valued at $33,000 after purchasing an additional 304 shares during the period. Commonwealth Bank of Australia increased its position in Godaddy by 80.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock valued at $35,000 after purchasing an additional 226 shares during the period. Icon Wealth Partners LLC purchased a new position in Godaddy during the 1st quarter valued at $45,000. Finally, Signaturefd LLC increased its position in Godaddy by 36.0% during the 1st quarter. Signaturefd LLC now owns 722 shares of the technology company’s stock valued at $54,000 after purchasing an additional 191 shares during the period. 96.56% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on GDDY shares. SunTrust Banks set a $90.00 price objective on shares of Godaddy and gave the company a “buy” rating in a research report on Monday, August 26th. Raymond James reduced their price objective on shares of Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. ValuEngine downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, TheStreet downgraded shares of Godaddy from a “b” rating to a “c” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $89.38.
Godaddy stock traded up $0.40 during mid-day trading on Monday, reaching $66.58. 461,408 shares of the company traded hands, compared to its average volume of 1,435,109. The firm’s 50 day moving average price is $66.04 and its 200 day moving average price is $72.63. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 105.68, a P/E/G ratio of 7.43 and a beta of 0.68. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. Godaddy Inc has a 52-week low of $56.67 and a 52-week high of $84.97.
Godaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.04). The business had revenue of $737.20 million during the quarter, compared to analysts’ expectations of $735.40 million. Godaddy had a return on equity of 11.44% and a net margin of 1.98%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts anticipate that Godaddy Inc will post 0.52 EPS for the current year.
In other news, CEO Scott Wagner sold 7,606 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $70.10, for a total value of $533,180.60. Following the sale, the chief executive officer now directly owns 219,804 shares of the company’s stock, valued at approximately $15,408,260.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nima Kelly sold 661 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $65.57, for a total transaction of $43,341.77. Following the completion of the sale, the insider now directly owns 124,422 shares in the company, valued at $8,158,350.54. The disclosure for this sale can be found here. Insiders sold a total of 21,968 shares of company stock worth $1,535,152 over the last ninety days. Insiders own 12.64% of the company’s stock.
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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