Schwab Charles Investment Management Inc. Reduces Holdings in GoDaddy Inc. (GDDY)
Schwab Charles Investment Management Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,038 shares of the technology company’s stock after selling 26,522 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.37% of GoDaddy worth $14,382,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado raised 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 acquiring an additional 986 shares in the last quarter. Parallel Advisors LLC raised its position in GoDaddy by 10.1% in the first quarter. Parallel Advisors LLC now owns 2,721 shares of the technology company’s stock worth $105,000 after acquiring an additional 250 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in GoDaddy by 215.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,770 shares of the technology company’s stock worth $105,000 after acquiring an additional 1,891 shares in the last quarter. Sei Investments Co. raised its position in GoDaddy by 160.4% in the second quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock worth $158,000 after acquiring an additional 2,283 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in GoDaddy in the second quarter worth about $210,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.
In other news, Director Robert R. Parsons sold 5,817,338 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $43.71, for a total transaction of $254,275,843.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nima Kelly sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $44.60, for a total value of $44,600.00. Following the sale, the executive vice president now directly owns 29,934 shares in the company, valued at approximately $1,335,056.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,321,948 shares of company stock worth $538,035,432. 25.70% of the stock is currently owned by insiders.
GoDaddy Inc. (NYSE GDDY) opened at 43.15 on Tuesday. GoDaddy Inc. has a 1-year low of $31.63 and a 1-year high of $45.37. The firm’s 50-day moving average price is $44.09 and its 200 day moving average price is $44.09. The stock’s market cap is $3.87 billion.
GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. The company had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. GoDaddy’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. Equities research analysts expect that GoDaddy Inc. will post $0.33 EPS for the current year.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of GoDaddy from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Jefferies Group LLC restated a “buy” rating and set a $55.00 price objective on shares of GoDaddy in a report on Wednesday, September 20th. Stifel Nicolaus set a $41.00 price objective on GoDaddy and gave the stock a “hold” rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. boosted their price objective on GoDaddy from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. Finally, Barclays PLC boosted their price objective on GoDaddy from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $46.47.
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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