GoDaddy Inc. (GDDY) Stake Boosted by Teachers Advisors LLC
Teachers Advisors LLC boosted its position in GoDaddy Inc. (NYSE:GDDY) by 55.8% during the first quarter, Holdings Channel reports. The institutional investor owned 96,501 shares of the technology company’s stock after buying an additional 34,575 shares during the period. Teachers Advisors LLC’s holdings in GoDaddy were worth $3,657,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Spark Investment Management LLC boosted its position in GoDaddy by 70.3% in the first quarter. Spark Investment Management LLC now owns 324,500 shares of the technology company’s stock worth $12,298,000 after buying an additional 134,000 shares in the last quarter. Westpac Banking Corp purchased a new position in GoDaddy during the first quarter worth approximately $259,000. Clinton Group Inc. purchased a new position in GoDaddy during the first quarter worth approximately $2,948,000. 1st Global Advisors Inc. purchased a new position in GoDaddy during the first quarter worth approximately $216,000. Finally, Trexquant Investment LP purchased a new position in GoDaddy during the first quarter worth approximately $677,000.
Shares of GoDaddy Inc. (NYSE:GDDY) opened at 44.00 on Thursday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 346.46 and a beta of 0.65. The stock has a 50 day moving average of $42.82 and a 200 day moving average of $39.35. GoDaddy Inc. has a 12-month low of $31.59 and a 12-month high of $45.26.
GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.10. The firm had revenue of $557.80 million for the quarter, compared to analysts’ expectations of $551.26 million. GoDaddy had a net margin of 1.21% and a return on equity of 5.58%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) earnings per share. Analysts forecast that GoDaddy Inc. will post $0.21 earnings per share for the current year.
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A number of research firms recently commented on GDDY. Stifel Nicolaus set a $41.00 price target on shares of GoDaddy and gave the stock a “hold” rating in a research note on Wednesday. Raymond James Financial, Inc. lifted their price target on shares of GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada lifted their price objective on shares of GoDaddy from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday. B. Riley reiterated a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a report on Wednesday. Finally, BidaskClub lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $44.62.
In related news, CEO Blake Irving sold 37,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $42.04, for a total value of $1,576,500.00. Following the sale, the chief executive officer now owns 40,606 shares of the company’s stock, valued at $1,707,076.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott Wagner sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $39.74, for a total transaction of $317,920.00. Following the completion of the sale, the chief operating officer now directly owns 11,106 shares in the company, valued at approximately $441,352.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,956 shares of company stock worth $26,627,864. 25.70% of the stock is owned by corporate insiders.
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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