Phoenix Holdings Ltd. trimmed its stake in Godaddy Inc (NYSE:GDDY) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,716 shares of the technology company’s stock after selling 2,170 shares during the period. Phoenix Holdings Ltd.’s holdings in Godaddy were worth $5,526,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital International Investors increased its holdings in Godaddy by 4.9% in the first quarter. Capital International Investors now owns 7,714,470 shares of the technology company’s stock valued at $440,580,000 after purchasing an additional 361,238 shares during the period. State Street Corp increased its holdings in Godaddy by 1.8% in the first quarter. State Street Corp now owns 3,792,082 shares of the technology company’s stock valued at $216,566,000 after purchasing an additional 67,081 shares during the period. BlueSpruce Investments LP grew its holdings in Godaddy by 9.3% during the 1st quarter. BlueSpruce Investments LP now owns 3,781,580 shares of the technology company’s stock worth $215,966,000 after acquiring an additional 320,550 shares during the period. First Trust Advisors LP grew its holdings in Godaddy by 13.1% during the 1st quarter. First Trust Advisors LP now owns 2,720,819 shares of the technology company’s stock worth $155,386,000 after acquiring an additional 315,350 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Godaddy by 4.4% during the 1st quarter. Geode Capital Management LLC now owns 1,849,189 shares of the technology company’s stock worth $105,511,000 after acquiring an additional 78,624 shares during the period. Institutional investors and hedge funds own 98.33% of the company’s stock.
GDDY has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on Godaddy in a report on Thursday, August 6th. They set a “buy” rating and a $83.00 price target for the company. JPMorgan Chase & Co. upgraded Godaddy from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Thursday, August 6th. Deutsche Bank increased their price target on Godaddy from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Barclays increased their price target on Godaddy from $73.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Citigroup increased their price target on Godaddy from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $92.20.
NYSE GDDY traded up $0.84 during trading hours on Thursday, hitting $82.52. The company’s stock had a trading volume of 16,726 shares, compared to its average volume of 1,645,004. Godaddy Inc has a 52 week low of $40.25 and a 52 week high of $85.46. The company has a market capitalization of $13.71 billion, a PE ratio of -26.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.86. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 5.24. The company’s 50-day simple moving average is $72.83 and its two-hundred day simple moving average is $69.81.
Godaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported ($4.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($4.23). Godaddy had a negative net margin of 15.72% and a positive return on equity of 50.04%. Research analysts anticipate that Godaddy Inc will post 1.13 EPS for the current fiscal year.
In other Godaddy news, insider Nima Kelly sold 350 shares of Godaddy stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $74.52, for a total transaction of $26,082.00. Following the transaction, the insider now owns 133,959 shares of the company’s stock, valued at approximately $9,982,624.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Raymond E. Winborne, Jr. sold 15,416 shares of Godaddy stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 directly owns 160,871 shares in the company, valued at approximately $12,639,634.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,310 shares of company stock worth $12,368,889. 0.52% of the stock is owned by insiders.
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. 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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