CIBC Asset Management Inc raised its position in shares of Godaddy Inc (NYSE:GDDY) by 13.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,819 shares of the technology company’s stock after purchasing an additional 826 shares during the period. CIBC Asset Management Inc’s holdings in Godaddy were worth $569,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GDDY. Dimensional Fund Advisors LP boosted its position in shares of Godaddy by 16.7% during the first quarter. Dimensional Fund Advisors LP now owns 305,259 shares of the technology company’s stock valued at $18,749,000 after purchasing an additional 43,664 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Godaddy by 7.1% during the first quarter. Guggenheim Capital LLC now owns 20,846 shares of the technology company’s stock valued at $1,280,000 after purchasing an additional 1,390 shares in the last quarter. DnB Asset Management AS bought a new stake in shares of Godaddy during the second quarter valued at approximately $1,031,000. IFM Investors Pty Ltd bought a new stake in shares of Godaddy during the second quarter valued at approximately $427,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Godaddy during the second quarter valued at approximately $169,000. 93.88% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Brian Sharples sold 1,200 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $73.47, for a total value of $88,164.00. Following the completion of the transaction, the director now owns 13,782 shares in the company, valued at $1,012,563.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca Morrow sold 367 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold 7,733,727 shares of company stock valued at $585,453,642 in the last 90 days. Company insiders own 7.63% of the company’s stock.
Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.10). Godaddy had a return on equity of 8.01% and a net margin of 4.96%. The business had revenue of $679.50 million during the quarter, compared to analysts’ expectations of $673.79 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, research analysts anticipate that Godaddy Inc will post 0.35 EPS for the current year.
Several research firms recently weighed in on GDDY. Wedbush restated a “neutral” rating and set a $85.00 price target on shares of Godaddy in a research report on Thursday, September 13th. ValuEngine cut Godaddy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. SunTrust Banks reiterated a “buy” rating and set a $87.00 price objective on shares of Godaddy in a research note on Friday, November 2nd. Zacks Investment Research cut Godaddy from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, Morgan Stanley lifted their price objective on Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $77.87.
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Godaddy Company Profile
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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