State Farm Mutual Automobile Insurance Co. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 81.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,700 shares of the technology company’s stock after acquiring an additional 118,280 shares during the quarter. State Farm Mutual Automobile Insurance Co. owned about 0.29% of GoDaddy worth $11,186,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of GDDY. Public Employees Retirement Association of Colorado boosted its position in GoDaddy by 66.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock worth $104,000 after purchasing an additional 986 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of GoDaddy by 10.1% during the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock valued at $105,000 after buying an additional 250 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of GoDaddy by 215.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock valued at $105,000 after buying an additional 1,891 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of GoDaddy during the 2nd quarter valued at about $118,000. Finally, Sei Investments Co. raised its stake in GoDaddy by 160.4% during the 2nd quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock valued at $158,000 after purchasing an additional 2,283 shares during the period. Hedge funds and other institutional investors own 77.88% of the company’s stock.
Several brokerages recently issued reports on GDDY. B. Riley reissued a “buy” rating and set a $53.00 target price on shares of GoDaddy in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. lifted their target price on GoDaddy from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Raymond James Financial, Inc. lifted their price objective on GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Stifel Nicolaus set a $41.00 price objective on GoDaddy and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. initiated coverage on GoDaddy in a research note on Tuesday, August 15th. They issued a “buy” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. GoDaddy presently has an average rating of “Buy” and an average price target of $46.47.
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In other news, insider Barbara J. Rechterman sold 35,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $42.23, for a total transaction of $1,478,050.00. Following the completion of the sale, the insider now directly owns 54,741 shares in the company, valued at approximately $2,311,712.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Blake Irving sold 37,500 shares of the company’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $42.23, for a total value of $1,583,625.00. Following the sale, the chief executive officer now owns 40,606 shares of the company’s stock, valued at $1,714,791.38. The disclosure for this sale can be found here. Insiders sold a total of 12,319,948 shares of company stock valued at $537,859,952 over the last quarter. 25.70% of the stock is currently owned by insiders.
Shares of GoDaddy Inc. (GDDY) traded down 0.080% on Friday, reaching $43.765. The company had a trading volume of 278,202 shares. The company has a 50 day moving average of $43.88 and a 200-day moving average of $39.83. The company has a market capitalization of $4.87 billion, a P/E ratio of 344.606 and a beta of 0.64. GoDaddy Inc. has a 52 week low of $31.63 and a 52 week high of $44.22.
GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The firm had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. During the same quarter in the prior year, the company earned ($0.11) EPS. GoDaddy’s revenue was up 22.3% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post $0.33 earnings per share for the current fiscal year.
GoDaddy Company 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.
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