Morgan Stanley lifted its holdings in Godaddy Inc (NYSE:GDDY) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,804 shares of the technology company’s stock after buying an additional 22,499 shares during the quarter. Morgan Stanley owned approximately 0.15% of Godaddy worth $18,997,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Godaddy in the 2nd quarter worth about $27,000. Commonwealth Bank of Australia grew its position in shares of 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 buying an additional 226 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Godaddy in the 1st quarter worth about $97,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Godaddy by 57.1% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,200 shares of the technology company’s stock worth $154,000 after buying an additional 800 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Godaddy in the 2nd quarter worth about $189,000. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Rebecca Morrow sold 384 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $74.90, for a total transaction of $28,761.60. Following the sale, the insider now directly owns 8,316 shares of the company’s stock, valued at approximately $622,868.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 745 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $62.86, for a total transaction of $46,830.70. Following the sale, the director now directly owns 13,498 shares in the company, valued at $848,484.28. The disclosure for this sale can be found here. Insiders have sold a total of 13,987 shares of company stock worth $964,789 over the last three months. 12.64% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on GDDY shares. ValuEngine downgraded shares of Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. SunTrust Banks reaffirmed a “buy” rating and issued a $90.00 target price on shares of Godaddy in a research report on Tuesday, September 17th. Finally, Raymond James reduced their target price on shares of Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.38.
Shares of GDDY stock opened at $64.28 on Tuesday. Godaddy Inc has a one year low of $56.67 and a one year high of $82.30. The company’s 50-day moving average is $64.70 and its 200 day moving average is $71.52. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 102.03, a price-to-earnings-growth ratio of 9.58 and a beta of 0.69. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85.
Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $737.20 million for the quarter, compared to analysts’ expectations of $735.40 million. During the same period last year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts predict that Godaddy Inc will post 0.48 earnings per share for the current fiscal year.
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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