Kornitzer Capital Management Inc. KS bought a new stake in Godaddy Inc (NYSE:GDDY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,190 shares of the technology company’s stock, valued at approximately $2,017,000.
Other hedge funds also recently bought and sold shares of the company. Aperio Group LLC lifted its stake in Godaddy by 82.1% in the 3rd quarter. Aperio Group LLC now owns 31,827 shares of the technology company’s stock valued at $2,654,000 after buying an additional 14,347 shares in the last quarter. IBM Retirement Fund purchased a new stake in Godaddy in the 3rd quarter valued at approximately $218,000. Swiss National Bank lifted its stake in Godaddy by 4.3% in the 3rd quarter. Swiss National Bank now owns 513,500 shares of the technology company’s stock valued at $42,821,000 after buying an additional 21,400 shares in the last quarter. US Bancorp DE lifted its stake in Godaddy by 25.6% in the 2nd quarter. US Bancorp DE now owns 7,649 shares of the technology company’s stock valued at $540,000 after buying an additional 1,560 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Godaddy by 154.4% in the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock valued at $119,738,000 after buying an additional 1,029,426 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Rebecca Morrow sold 367 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $74.19, for a total value of $27,227.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nima Kelly sold 530 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $66.74, for a total value of $35,372.20. Following the completion of the sale, the insider now owns 96,986 shares of the company’s stock, valued at $6,472,845.64. The disclosure for this sale can be found here. Insiders sold a total of 107,761 shares of company stock worth $8,474,173 over the last ninety days. Corporate insiders own 7.63% of the company’s stock.
GDDY has been the topic of a number of recent research reports. Citigroup raised Godaddy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 11th. Morgan Stanley set a $88.00 target price on Godaddy and gave the company a “buy” rating in a research note on Wednesday, November 28th. Zacks Investment Research raised Godaddy from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Tuesday, August 14th. TheStreet lowered Godaddy from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Finally, Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of Godaddy in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $78.07.
Shares of Godaddy stock opened at $64.79 on Wednesday. Godaddy Inc has a fifty-two week low of $45.87 and a fifty-two week high of $84.97. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 154.26, a price-to-earnings-growth ratio of 11.60 and a beta of 0.79. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.71 and a current ratio of 0.71.
Godaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10). The business had revenue of $679.50 million for the quarter, compared to analysts’ expectations of $673.79 million. Godaddy had a return on equity of 8.01% and a net margin of 4.96%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. Analysts expect that Godaddy Inc will post 0.34 earnings per share for the current fiscal year.
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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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