Godaddy Inc (NYSE:GDDY) Shares Sold by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. lessened its stake in shares of Godaddy Inc (NYSE:GDDY) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,479 shares of the technology company’s stock after selling 2,982 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Godaddy were worth $622,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of GDDY. Sandy Spring Bank bought a new stake in Godaddy during the first quarter worth approximately $29,000. Cordasco Financial Network boosted its holdings in Godaddy by 45.5% during the first quarter. Cordasco Financial Network now owns 800 shares of the technology company’s stock worth $46,000 after buying an additional 250 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Godaddy during the second quarter worth approximately $62,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Godaddy by 72.7% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,900 shares of the technology company’s stock worth $109,000 after buying an additional 800 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Godaddy by 197.4% during the first quarter. Signaturefd LLC now owns 1,969 shares of the technology company’s stock worth $112,000 after buying an additional 1,307 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.
A number of analysts recently weighed in on the stock. TheStreet cut shares of Godaddy from a “b-” rating to a “c+” rating in a report on Tuesday. Raymond James raised their price objective on shares of Godaddy from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Royal Bank of Canada raised their price objective on shares of Godaddy from $71.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Wedbush raised shares of Godaddy from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $80.00 to $73.00 in a research note on Monday, April 6th. They noted that the move was a valuation call. Finally, SunTrust Banks began coverage on shares of Godaddy in a research note on Thursday, May 7th. They issued a “buy” rating and a $88.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $84.42.
Godaddy (NYSE:GDDY) last issued its earnings results on Wednesday, May 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $792.00 million during the quarter, compared to analyst estimates of $789.80 million. Godaddy had a net margin of 5.44% and a return on equity of 27.82%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts expect that Godaddy Inc will post 1.03 earnings per share for the current fiscal year.
In other news, CFO Raymond E. Winborne, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $75.00, for a total transaction of $1,125,000.00. Following the transaction, the chief financial officer now owns 175,376 shares in the company, valued at approximately $13,153,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Raymond E. Winborne, Jr. sold 15,416 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $78.57, for a total transaction of $1,211,235.12. Following the transaction, the chief financial officer now owns 160,871 shares in the company, valued at approximately $12,639,634.47. The disclosure for this sale can be found here. Insiders have sold a total of 199,159 shares of company stock valued at $15,553,567 in the last three months. Company insiders own 0.52% of the company’s stock.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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