44,830 Shares in Godaddy Inc (GDDY) Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Godaddy Inc (NYSE:GDDY) during the 2nd quarter, Holdings Channel reports. The fund purchased 44,830 shares of the technology company’s stock, valued at approximately $3,165,000.
Other institutional investors have also made changes to their positions in the company. Amalgamated Bank grew its holdings in shares of Godaddy by 30.4% in the 2nd quarter. Amalgamated Bank now owns 35,017 shares of the technology company’s stock worth $2,472,000 after purchasing an additional 8,157 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Godaddy in the 2nd quarter worth about $346,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Godaddy by 161.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 25,463 shares of the technology company’s stock worth $1,564,000 after purchasing an additional 15,741 shares during the last quarter. Addison Capital Co bought a new stake in shares of Godaddy in the 2nd quarter worth about $445,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Godaddy in the 2nd quarter worth about $169,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.
In other Godaddy news, Director Brian Sharples sold 1,200 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $72.00, for a total transaction of $86,400.00. Following the sale, the director now owns 18,582 shares of the company’s stock, valued at approximately $1,337,904. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nima Kelly sold 8,688 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $80.04, for a total transaction of $695,387.52. Following the sale, the executive vice president now directly owns 61,424 shares in the company, valued at approximately $4,916,376.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,784,896 shares of company stock worth $588,910,951. Insiders own 7.63% of the company’s stock.
Godaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The firm had revenue of $652.00 million for the quarter, compared to analyst estimates of $643.59 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 16.8% on a year-over-year basis. analysts expect that Godaddy Inc will post 0.55 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on GDDY shares. Zacks Investment Research raised shares of Godaddy from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Wednesday, July 25th. Barclays upped their target price on shares of Godaddy from $77.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, July 23rd. Morgan Stanley upped their target price on shares of Godaddy from $72.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, August 6th. SunTrust Banks upped their target price on shares of Godaddy to $87.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Godaddy in a report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Godaddy currently has an average rating of “Buy” and an average price target of $74.80.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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