Candriam Luxembourg S.C.A. cut its stake in shares of Godaddy Inc (NYSE:GDDY) by 75.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,608 shares of the technology company’s stock after selling 32,085 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Godaddy were worth $798,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lunia Capital LP grew its position 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 acquiring an additional 10,721,812 shares in the last quarter. Norges Bank bought a new stake in Godaddy in the fourth quarter worth approximately $110,379,000. Vanguard Group Inc grew its position 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 acquiring an additional 1,486,378 shares in the last quarter. Partner Fund Management L.P. grew its position in Godaddy by 98.2% in the fourth quarter. Partner Fund Management L.P. now owns 2,210,808 shares of the technology company’s stock worth $145,073,000 after acquiring an additional 1,095,607 shares in the last quarter. Finally, Brahman Capital Corp. grew its position 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 acquiring an additional 624,221 shares in the last quarter. 98.77% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on GDDY shares. Morgan Stanley boosted their target price on shares of Godaddy from $88.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, February 21st. TheStreet raised shares of Godaddy from a “c+” rating to a “b” rating in a research report on Thursday, February 21st. Citigroup boosted their target price on shares of Godaddy from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 21st. Barclays boosted their target price on shares of Godaddy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, February 21st. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $97.00 price objective on shares of Godaddy in a research note on Thursday, February 21st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.67.
In related news, CAO Rebecca Morrow sold 633 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $75.14, for a total transaction of $47,563.62. Following the completion of the transaction, the chief accounting officer now directly owns 8,079 shares in the company, valued at approximately $607,056.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James M. Carroll sold 52,042 shares of the company’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 transaction, the insider now owns 99,818 shares of the company’s stock, valued at $7,786,802.18. The disclosure for this sale can be found here. Insiders sold 269,277 shares of company stock valued at $20,340,937 over the last 90 days. 12.64% of the stock is owned by corporate insiders.
Shares of Godaddy stock opened at $75.50 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.72. Godaddy Inc has a 1-year low of $56.67 and a 1-year high of $84.97. The firm has a market capitalization of $13.26 billion, a PE ratio of 119.84, a PEG ratio of 6.13 and a beta of 0.67.
Godaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). Godaddy had a return on equity of 11.89% and a net margin of 3.17%. The firm had revenue of $710.00 million during the quarter, compared to analyst estimates of $711.18 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Godaddy’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that Godaddy Inc will post 0.72 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. 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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