Zurich Insurance Group Ltd FI trimmed its stake in shares of Godaddy Inc (NYSE:GDDY) by 67.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 26,448 shares of the technology company’s stock after selling 54,778 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Godaddy were worth $1,855,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in GDDY. Redhawk Wealth Advisors Inc. acquired a new position in Godaddy in the 2nd quarter worth about $27,000. Commonwealth Bank of Australia increased its holdings in Godaddy by 80.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after purchasing an additional 226 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Godaddy in the 1st quarter worth about $45,000. Signaturefd LLC increased its holdings in Godaddy by 36.0% in the 1st quarter. Signaturefd LLC now owns 722 shares of the technology company’s stock worth $54,000 after purchasing an additional 191 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in Godaddy in the 1st quarter worth about $97,000. Hedge funds and other institutional investors own 96.56% of the company’s stock.
A number of equities analysts have issued reports on the company. ValuEngine cut Godaddy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James decreased their price target on Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, SunTrust Banks reissued a “buy” rating and issued a $90.00 price target on shares of Godaddy in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Godaddy presently has a consensus rating of “Buy” and a consensus price target of $89.38.
Godaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $737.20 million during the quarter, compared to analyst estimates of $735.40 million. Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. Equities research analysts predict that Godaddy Inc will post 0.48 EPS for the current year.
In other news, insider Rebecca Morrow sold 384 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $74.90, for a total value of $28,761.60. Following the completion of the sale, the insider now owns 8,316 shares of the company’s stock, valued at $622,868.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ah Kee Andrew Low sold 1,022 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $62.86, for a total value of $64,242.92. Following the sale, the chief operating officer now owns 62,228 shares in the company, valued at approximately $3,911,652.08. The disclosure for this sale can be found here. In the last three months, insiders sold 23,593 shares of company stock valued at $1,639,110. Insiders own 12.64% of the company’s stock.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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