Advisor Group Inc. lifted its position in shares of Godaddy Inc (NYSE:GDDY) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,062 shares of the technology company’s stock after buying an additional 3,399 shares during the quarter. Advisor Group Inc.’s holdings in Godaddy were worth $660,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia acquired a new position in Godaddy during the fourth quarter valued at approximately $984,000. Complex Capital Management LLC acquired a new position in Godaddy during the fourth quarter valued at approximately $1,312,000. Bank of New York Mellon Corp lifted its position in Godaddy by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 630,269 shares of the technology company’s stock valued at $41,359,000 after buying an additional 16,714 shares in the last quarter. Lee Capital Asset Management LLC acquired a new position in Godaddy during the fourth quarter valued at approximately $7,645,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Godaddy by 39.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 899,091 shares of the technology company’s stock valued at $58,999,000 after buying an additional 253,700 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.
NYSE GDDY opened at $75.85 on Thursday. Godaddy Inc has a 52 week low of $56.67 and a 52 week high of $84.97. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $13.10 billion, a PE ratio of 120.40, a PEG ratio of 5.35 and a beta of 0.66.
Godaddy (NYSE:GDDY) last posted its earnings results on Wednesday, February 20th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. Godaddy had a net margin of 2.90% and a return on equity of 11.91%. The business had revenue of $696.00 million for the quarter, compared to analysts’ expectations of $693.41 million. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Godaddy Inc will post 0.82 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Godaddy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Godaddy to $83.00 and gave the company a “neutral” rating in a research report on Thursday, February 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $97.00 price target on shares of Godaddy in a research report on Thursday, February 21st. They noted that the move was a valuation call. Barclays lifted their price target on shares of Godaddy from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, February 21st. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $85.17.
In related news, EVP Arne Josefsberg sold 7,267 shares of Godaddy stock in a transaction on Monday, February 25th. The shares were sold at an average price of $76.85, for a total value of $558,468.95. Following the completion of the sale, the executive vice president now owns 5,738 shares in the company, valued at $440,965.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nima Kelly sold 1,000 shares of Godaddy stock in a transaction on Monday, March 18th. The stock was sold at an average price of $75.51, for a total transaction of $75,510.00. Following the completion of the sale, the insider now owns 119,451 shares of the company’s stock, valued at approximately $9,019,745.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,438 shares of company stock worth $16,781,421. Corporate insiders own 7.63% of the company’s stock.
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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. 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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