Point72 Hong Kong Ltd lifted its position in shares of Godaddy Inc (NYSE:GDDY) by 1,467.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,288 shares of the technology company’s stock after purchasing an additional 2,142 shares during the period. Point72 Hong Kong Ltd’s holdings in Godaddy were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Godaddy by 23.7% during the second quarter. BlackRock Inc. now owns 14,344,269 shares of the technology company’s stock worth $1,006,251,000 after purchasing an additional 2,747,523 shares during the period. Janus Henderson Group PLC increased its stake in Godaddy by 5.5% during the 2nd quarter. Janus Henderson Group PLC now owns 8,369,171 shares of the technology company’s stock worth $587,096,000 after acquiring an additional 436,616 shares during the period. FMR LLC increased its stake in Godaddy by 32.6% during the 1st quarter. FMR LLC now owns 8,332,155 shares of the technology company’s stock worth $626,495,000 after acquiring an additional 2,046,952 shares during the period. Winslow Capital Management LLC increased its stake in Godaddy by 3.3% during the 2nd quarter. Winslow Capital Management LLC now owns 4,042,013 shares of the technology company’s stock worth $283,547,000 after acquiring an additional 129,681 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Godaddy by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,660,300 shares of the technology company’s stock worth $256,770,000 after acquiring an additional 94,900 shares during the period. Institutional investors own 96.56% of the company’s stock.
In other news, insider Rebecca Morrow sold 384 shares of Godaddy 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 transaction, the insider now directly owns 8,316 shares of the company’s stock, valued at approximately $622,868.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Wagner sold 7,606 shares of Godaddy stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $70.10, for a total value of $533,180.60. Following the completion of the transaction, the chief executive officer now directly owns 219,804 shares of the company’s stock, valued at $15,408,260.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,593 shares of company stock worth $1,639,110. 12.64% of the stock is currently owned by company insiders.
Godaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.04). Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The business had revenue of $737.20 million during the quarter, compared to analyst estimates of $735.40 million. During the same period in the prior year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts predict that Godaddy Inc will post 0.48 earnings per share for the current year.
A number of equities analysts have commented on GDDY shares. Raymond James lowered their price objective on Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. ValuEngine lowered Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks restated a “buy” rating and set a $90.00 price objective on shares of Godaddy in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Godaddy presently has an average rating of “Buy” and a consensus price target of $89.38.
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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