State Street Corp Acquires 281,620 Shares of GoDaddy Inc. (GDDY)
State Street Corp raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 47.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 872,913 shares of the technology company’s stock after buying an additional 281,620 shares during the period. State Street Corp owned 0.95% of GoDaddy worth $37,030,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GDDY. FMR LLC increased its stake in GoDaddy by 40.9% in the 2nd quarter. FMR LLC now owns 10,839,221 shares of the technology company’s stock valued at $459,800,000 after buying an additional 3,148,349 shares during the last quarter. Vanguard Group Inc. increased its stake in GoDaddy by 26.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock valued at $320,434,000 after buying an additional 1,598,137 shares during the last quarter. Marshall Wace North America L.P. increased its stake in GoDaddy by 280.7% in the 2nd 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 during the last quarter. Ameriprise Financial Inc. increased its stake in GoDaddy by 273.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,241,565 shares of the technology company’s stock valued at $52,668,000 after buying an additional 908,685 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in GoDaddy in the 2nd quarter valued at $33,449,000. Hedge funds and other institutional investors own 78.82% of the company’s stock.
Shares of GoDaddy Inc. (GDDY) opened at $48.61 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 4.89. The stock has a market cap of $7,781.52, a PE ratio of 152.32, a price-to-earnings-growth ratio of 8.14 and a beta of 0.64. GoDaddy Inc. has a twelve month low of $31.94 and a twelve month high of $49.36.
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, beating the Zacks’ consensus estimate of $0.03 by $0.10. The firm had revenue of $557.80 million during the quarter, compared to the consensus estimate of $551.26 million. GoDaddy had a net margin of 2.34% and a return on equity of 7.34%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. equities research analysts expect that GoDaddy Inc. will post 0.29 earnings per share for the current fiscal year.
GDDY has been the topic of several recent research reports. SunTrust Banks, Inc. initiated coverage on shares of GoDaddy in a research note on Tuesday, August 15th. They issued a “buy” rating and a $50.00 price target on the stock. B. Riley restated a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research note on Monday, August 14th. Deutsche Bank AG boosted their price objective on shares of GoDaddy from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. BidaskClub lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC initiated coverage on shares of GoDaddy in a research note on Thursday, August 24th. They set a “buy” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.62.
In other news, insider Barbara J. Rechterman sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $46.54, for a total transaction of $1,628,900.00. Following the completion of the sale, the insider now owns 50,427 shares of the company’s stock, valued at approximately $2,346,872.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert R. Parsons sold 5,817,338 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $43.71, for a total transaction of $254,275,843.98. The disclosure for this sale can be found here. Insiders sold a total of 12,260,560 shares of company stock valued at $535,857,944 in the last three months. Insiders own 22.68% 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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