Fmr LLC lessened its position in shares of Godaddy Inc (NYSE:GDDY) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,098,378 shares of the technology company’s stock after selling 1,462,943 shares during the quarter. Fmr LLC owned 7.67% of Godaddy worth $924,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC purchased a new stake in shares of Godaddy in the second quarter worth about $138,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Godaddy in the second quarter worth about $169,000. Redpoint Investment Management Pty Ltd purchased a new stake in shares of Godaddy in the second quarter worth about $221,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Godaddy in the second quarter worth about $231,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Godaddy in the first quarter worth about $275,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

In other Godaddy news, insider Steven Aldrich sold 10,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $70.52, for a total transaction of $705,200.00. Following the completion of the transaction, the insider now owns 37,596 shares of the company’s stock, valued at $2,651,269.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nima Kelly sold 8,688 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $80.04, for a total value of $695,387.52. Following the transaction, the executive vice president now directly owns 61,424 shares of the company’s stock, valued at approximately $4,916,376.96. The disclosure for this sale can be found here. Insiders have sold 7,785,557 shares of company stock valued at $588,949,925 in the last three months. Insiders own 7.63% of the company’s stock.

GDDY has been the topic of a number of recent analyst reports. SunTrust Banks reiterated a “buy” rating and set a $87.00 price target on shares of Godaddy in a research report on Monday, August 6th. Barclays increased their price target on Godaddy from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, July 23rd. Oppenheimer increased their price target on Godaddy from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 9th. Zacks Investment Research downgraded Godaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Finally, Piper Jaffray Companies increased their price target on Godaddy to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $74.80.

Shares of GDDY stock opened at $80.27 on Friday. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 262.42, a price-to-earnings-growth ratio of 8.72 and a beta of 0.58. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.56. Godaddy Inc has a 12-month low of $42.19 and a 12-month high of $81.95.

Godaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Godaddy had a return on equity of 8.78% and a net margin of 5.83%. The business had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $643.59 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. research analysts predict that Godaddy Inc will post 0.55 EPS for the current 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. 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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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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