GoDaddy Inc. (GDDY) Position Raised by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 12.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 7,006,725 shares of the company’s stock after buying an additional 798,491 shares during the period. JPMorgan Chase & Co. owned about 8.50% of GoDaddy worth $241,941,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Technology Crossover Management VII Ltd. raised its position in GoDaddy by 194.2% in the second quarter. Technology Crossover Management VII Ltd. now owns 14,267,080 shares of the company’s stock worth $444,990,000 after buying an additional 9,418,073 shares during the last quarter. FMR LLC increased its stake in GoDaddy by 60.4% in the second quarter. FMR LLC now owns 12,238,511 shares of the company’s stock valued at $381,719,000 after buying an additional 4,609,309 shares during the last quarter. Vanguard Group Inc. increased its stake in GoDaddy by 60.8% in the second quarter. Vanguard Group Inc. now owns 4,725,249 shares of the company’s stock valued at $147,381,000 after buying an additional 1,786,473 shares during the last quarter. First Trust Advisors LP increased its stake in GoDaddy by 39.0% in the third quarter. First Trust Advisors LP now owns 1,468,546 shares of the company’s stock valued at $50,709,000 after buying an additional 411,982 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in GoDaddy during the third quarter valued at about $48,242,000.
Shares of GoDaddy Inc. (NYSE:GDDY) opened at 36.22 on Wednesday. The firm’s 50-day moving average price is $35.02 and its 200-day moving average price is $32.78. GoDaddy Inc. has a 12 month low of $23.88 and a 12 month high of $37.21. The company’s market cap is $3.17 billion.
GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. GoDaddy had a negative return on equity of 2.14% and a negative net margin of 0.81%. The firm had revenue of $472.10 million for the quarter, compared to analysts’ expectations of $470.07 million. During the same quarter last year, the business earned ($0.04) earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Equities analysts predict that GoDaddy Inc. will post ($0.04) EPS for the current fiscal year.
Several analysts have issued reports on the company. B. Riley upgraded GoDaddy to a “buy” rating and set a $45.00 price objective on the stock in a report on Sunday. TheStreet upgraded GoDaddy from a “sell” rating to a “hold” rating in a report on Wednesday, October 19th. Piper Jaffray Cos. restated an “overweight” rating and set a $50.00 price objective (up previously from $40.00) on shares of GoDaddy in a report on Monday, October 24th. Monness Crespi & Hardt downgraded GoDaddy from a “buy” rating to a “neutral” rating in a report on Tuesday, November 1st. They noted that the move was a valuation call. Finally, Cantor Fitzgerald assumed coverage on GoDaddy in a report on Tuesday, October 18th. They set a “buy” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $40.00.
In other news, insider Barbara J. Rechterman sold 39,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $36.21, for a total transaction of $1,412,190.00. Following the sale, the insider now owns 69,650 shares of the company’s stock, valued at $2,522,026.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $32.14, for a total value of $1,205,250.00. Following the sale, the chief executive officer now directly owns 39,003 shares in the company, valued at approximately $1,253,556.42. The disclosure for this sale can be found here. Company insiders own 25.70% of the company’s stock.
GoDaddy Company Profile
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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