First Republic Investment Management Inc. boosted its stake in Godaddy Inc (NYSE:GDDY) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,652 shares of the technology company’s stock after purchasing an additional 342 shares during the period. First Republic Investment Management Inc.’s holdings in Godaddy were worth $467,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Berman Capital Advisors LLC increased its holdings in Godaddy by 205.4% in the first 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. Icon Wealth Partners LLC acquired a new stake in Godaddy during the 1st quarter worth about $45,000. Signaturefd LLC grew its holdings in Godaddy by 36.0% during the 1st quarter. Signaturefd LLC now owns 722 shares of the technology company’s stock worth $54,000 after acquiring an additional 191 shares during the period. Cerebellum GP LLC acquired a new stake in Godaddy during the 1st quarter worth about $97,000. Finally, Bremer Bank National Association acquired a new stake in Godaddy during the 1st quarter worth about $110,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
In related news, insider Nima Kelly sold 3,161 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $44.47, for a total value of $140,569.67. Following the transaction, the insider now owns 126,009 shares of the company’s stock, valued at approximately $5,603,620.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 800 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $70.28, for a total transaction of $56,224.00. Following the completion of the transaction, the director now directly owns 15,043 shares in the company, valued at approximately $1,057,222.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,929 shares of company stock valued at $1,731,946. 12.64% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. ValuEngine downgraded Godaddy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet downgraded Godaddy from a “b” rating to a “c” rating in a report on Tuesday, May 21st. Raymond James decreased their price target on Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, SunTrust Banks set a $90.00 price target on Godaddy and gave the stock a “buy” rating in a report on Monday, August 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $88.89.
Shares of GDDY traded up $0.48 during trading hours on Friday, hitting $66.18. The stock had a trading volume of 2,095,860 shares, compared to its average volume of 1,579,963. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $66.22 and a 200-day simple moving average of $72.68. The firm has a market capitalization of $11.67 billion, a P/E ratio of 105.05, a price-to-earnings-growth ratio of 7.40 and a beta of 0.68. Godaddy Inc has a 1-year low of $56.67 and a 1-year high of $84.97.
Godaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04). The firm had revenue of $737.20 million during the quarter, compared to analyst estimates of $735.40 million. Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts predict that Godaddy Inc will post 0.52 EPS for the current fiscal year.
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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