Seven Eight Capital LP Acquires Shares of 10,400 GoDaddy Inc. (GDDY)
Seven Eight Capital LP acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,400 shares of the technology company’s stock, valued at approximately $441,000.
A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in GoDaddy by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 6,206,386 shares of the technology company’s stock valued at $263,274,000 after buying an additional 387,731 shares in the last quarter. Vanguard Group Inc. boosted its stake in GoDaddy by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock valued at $225,720,000 after buying an additional 380,343 shares in the last quarter. Franklin Resources Inc. boosted its stake in GoDaddy by 41.5% in the second quarter. Franklin Resources Inc. now owns 2,180,197 shares of the technology company’s stock valued at $92,484,000 after buying an additional 639,600 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in GoDaddy by 280.7% in the second quarter. Marshall Wace North America L.P. now owns 2,134,170 shares of the technology company’s stock valued at $89,635,000 after buying an additional 1,573,572 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in GoDaddy by 16.0% in the second quarter. Eaton Vance Management now owns 1,944,110 shares of the technology company’s stock valued at $82,469,000 after buying an additional 268,443 shares in the last quarter. 77.87% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts recently weighed in on the company. Zacks Investment Research lowered GoDaddy from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Deutsche Bank AG raised their price objective on GoDaddy from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, August 14th. B. Riley reaffirmed a “buy” rating and issued a $53.00 price objective on shares of GoDaddy in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GoDaddy in a research note on Saturday, August 26th. Finally, BidaskClub raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. GoDaddy presently has an average rating of “Buy” and an average price target of $46.47.
GoDaddy Inc. (NYSE GDDY) opened at 43.81 on Monday. The stock’s 50 day moving average price is $43.87 and its 200-day moving average price is $40.56. GoDaddy Inc. has a 12 month low of $31.63 and a 12 month high of $45.33. The company has a market capitalization of $4.87 billion, a P/E ratio of 344.96 and a beta of 0.64.
GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The firm had revenue of $557.80 million during the quarter, compared to analysts’ expectations of $551.26 million. During the same period in the prior year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities research analysts predict that GoDaddy Inc. will post $0.33 EPS for the current fiscal year.
In related news, Director Robert R. Parsons sold 5,817,338 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $43.71, for a total transaction of $254,275,843.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lake Group L.L.C. Silver sold 5,773,272 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $43.71, for a total value of $252,349,719.12. The disclosure for this sale can be found here. Insiders sold a total of 12,319,948 shares of company stock valued at $537,859,952 over the last quarter. Company insiders own 25.70% of the company’s stock.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It 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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