IFP Advisors Inc lifted its position in GoDaddy Inc. (NYSE:GDDY) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,223 shares of the technology company’s stock after purchasing an additional 390 shares during the quarter. IFP Advisors Inc’s holdings in GoDaddy were worth $170,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in GDDY. Norges Bank acquired a new position in GoDaddy during the fourth quarter worth $135,675,000. FMR LLC raised its stake in GoDaddy by 10.6% during the fourth quarter. FMR LLC now owns 11,149,934 shares of the technology company’s stock worth $924,888,000 after acquiring an additional 1,067,110 shares in the last quarter. Select Equity Group L.P. raised its stake in GoDaddy by 7.2% during the fourth quarter. Select Equity Group L.P. now owns 10,592,681 shares of the technology company’s stock worth $878,663,000 after acquiring an additional 711,462 shares in the last quarter. Jefferies Group LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at $33,969,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of GoDaddy in the first quarter valued at $30,755,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
GDDY has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on GoDaddy from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, February 12th. Oppenheimer raised their target price on GoDaddy from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, February 12th. Evercore ISI initiated coverage on GoDaddy in a research note on Tuesday, April 13th. They issued an “in-line” rating and a $87.00 target price for the company. Rosenblatt Securities raised their target price on GoDaddy from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 12th. Finally, Barclays raised their target price on GoDaddy from $90.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, February 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. GoDaddy currently has a consensus rating of “Buy” and an average price target of $100.21.
GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, May 5th. The technology company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.25). GoDaddy had a positive return on equity of 94.14% and a negative net margin of 15.67%. As a group, equities research analysts forecast that GoDaddy Inc. will post 1.27 EPS for the current year.
In related news, CFO Raymond E. Winborne, Jr. sold 58,297 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $84.53, for a total value of $4,927,845.41. Following the completion of the sale, the chief financial officer now directly owns 187,643 shares in the company, valued at approximately $15,861,462.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nick Daddario sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $85.83, for a total value of $128,745.00. Following the sale, the chief accounting officer now owns 6,462 shares of the company’s stock, valued at $554,633.46. The disclosure for this sale can be found here. Insiders sold a total of 94,123 shares of company stock valued at $7,864,167 over the last 90 days. 0.52% of the stock is currently owned by corporate insiders.
GoDaddy Inc engages in the design and development of cloud-based technology products 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. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.
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