State Farm Mutual Automobile Insurance Co. Acquires 118,280 Shares of Godaddy Inc (GDDY)

State Farm Mutual Automobile Insurance Co. raised its holdings in shares of Godaddy Inc (NYSE:GDDY) by 81.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,700 shares of the technology company’s stock after purchasing an additional 118,280 shares during the quarter. State Farm Mutual Automobile Insurance Co. owned 0.29% of Godaddy worth $11,186,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Godaddy by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after purchasing an additional 1,524 shares in the last quarter. Teachers Advisors LLC increased its stake in Godaddy by 30.4% during the 4th quarter. Teachers Advisors LLC now owns 61,926 shares of the technology company’s stock valued at $2,164,000 after purchasing an additional 14,419 shares in the last quarter. Vanguard Group Inc. increased its stake in Godaddy by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock valued at $225,720,000 after purchasing an additional 380,343 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Godaddy by 16.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 31,770 shares of the technology company’s stock valued at $1,204,000 after purchasing an additional 4,403 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Godaddy by 18.4% during the 1st quarter. Geode Capital Management LLC now owns 384,671 shares of the technology company’s stock valued at $14,578,000 after purchasing an additional 59,759 shares in the last quarter.

GDDY has been the subject of a number of recent research reports. B. Riley restated a “buy” rating and set a $53.00 price target on shares of Godaddy in a research note on Wednesday, July 19th. BidaskClub lowered shares of Godaddy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Deutsche Bank AG boosted their price target on shares of Godaddy from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, August 14th. SunTrust Banks, Inc. initiated coverage on shares of Godaddy in a research note on Tuesday, August 15th. They set a “buy” rating and a $50.00 price target for the company. Finally, Jefferies Group LLC assumed coverage on shares of Godaddy in a research note on Thursday, August 24th. They set a “buy” rating and a $55.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.47.

Godaddy Inc (GDDY) traded down 0.64% during trading on Friday, reaching $43.75. 294,354 shares of the company traded hands. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 344.49 and a beta of 0.64. The company’s 50-day moving average price is $42.92 and its 200 day moving average price is $40.31. Godaddy Inc has a 52 week low of $31.63 and a 52 week high of $45.33.

Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $557.80 million during the quarter, compared to analyst estimates of $551.26 million. Godaddy had a return on equity of 21.28% and a net margin of 4.20%. Godaddy’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, equities research analysts expect that Godaddy Inc will post $0.33 EPS for the current year.

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In related news, insider Auguste Goldman sold 1,000 shares of Godaddy stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $41.07, for a total value of $41,070.00. Following the completion of the sale, the insider now directly owns 6,491 shares in the company, valued at approximately $266,585.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barbara J. Rechterman sold 39,314 shares of Godaddy stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $44.27, for a total value of $1,740,430.78. Following the completion of the sale, the insider now owns 54,741 shares of the company’s stock, valued at $2,423,384.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 741,528 shares of company stock valued at $31,614,819. 25.70% of the stock is owned by insiders.

Godaddy Profile

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.

Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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