State Farm Mutual Automobile Insurance Co. Raises Stake in GoDaddy Inc. (GDDY)

State Farm Mutual Automobile Insurance Co. grew its position in GoDaddy Inc. (NYSE:GDDY) by 81.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,700 shares of the technology company’s stock after buying an additional 118,280 shares during the quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.29% of GoDaddy worth $11,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in GoDaddy by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after acquiring an additional 1,524 shares in the last quarter. Teachers Advisors LLC raised its position in GoDaddy by 30.4% during the fourth quarter. Teachers Advisors LLC now owns 61,926 shares of the technology company’s stock valued at $2,164,000 after acquiring an additional 14,419 shares in the last quarter. Engineers Gate Manager LP raised its position in GoDaddy by 90.6% during the second quarter. Engineers Gate Manager LP now owns 114,274 shares of the technology company’s stock valued at $4,848,000 after acquiring an additional 54,328 shares in the last quarter. Vanguard Group Inc. raised its position in GoDaddy by 6.8% during the first quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock valued at $225,720,000 after acquiring an additional 380,343 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in GoDaddy by 16.1% during the first quarter. UBS Asset Management Americas Inc. now owns 31,770 shares of the technology company’s stock valued at $1,204,000 after acquiring an additional 4,403 shares in the last quarter. Institutional investors own 77.87% of the company’s stock.

GDDY has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of GoDaddy from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Deutsche Bank AG raised their price objective on shares of GoDaddy from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of GoDaddy in a research note on Wednesday. B. Riley reiterated a “buy” rating and set a $53.00 price target on shares of GoDaddy in a research note on Monday, July 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of GoDaddy in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $46.47.

GoDaddy Inc. (GDDY) opened at 45.30 on Friday. GoDaddy Inc. has a 52-week low of $31.63 and a 52-week high of $45.37. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 356.69 and a beta of 0.64. The stock’s 50 day moving average price is $44.09 and its 200 day moving average price is $44.09.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The company had revenue of $557.80 million during the quarter, compared to analyst estimates of $551.26 million. During the same quarter last year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that GoDaddy Inc. will post $0.33 earnings per share for the current fiscal year.

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In related news, EVP James M. Carroll sold 33,600 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $41.58, for a total value of $1,397,088.00. Following the transaction, the executive vice president now directly owns 42,087 shares of the company’s stock, valued at approximately $1,749,977.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Barbara J. Rechterman sold 35,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $41.94, for a total value of $1,467,900.00. Following the completion of the transaction, the insider now directly owns 54,741 shares in the company, valued at $2,295,837.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,321,948 shares of company stock worth $538,035,432. Company insiders own 25.70% of the company’s stock.

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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