Stevens Capital Management LP Has $9.79 Million Stock Position in Godaddy Inc (NYSE:GDDY)

Stevens Capital Management LP boosted its position in shares of Godaddy Inc (NYSE:GDDY) by 56.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,514 shares of the technology company’s stock after purchasing an additional 50,198 shares during the period. Stevens Capital Management LP’s holdings in Godaddy were worth $9,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GDDY. Geode Capital Management LLC increased its holdings in Godaddy by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 1,760,737 shares of the technology company’s stock worth $115,466,000 after buying an additional 66,412 shares during the period. Dimensional Fund Advisors LP increased its holdings in Godaddy by 10.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 425,262 shares of the technology company’s stock worth $27,900,000 after buying an additional 38,722 shares during the period. Virtu Financial LLC acquired a new position in Godaddy in the 1st quarter worth approximately $355,000. Tealwood Asset Management Inc. acquired a new position in Godaddy in the 1st quarter worth approximately $1,955,000. Finally, Sciencast Management LP acquired a new position in Godaddy in the 1st quarter worth approximately $855,000. 97.98% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Scott Wagner sold 37,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $73.87, for a total transaction of $2,733,190.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nima Kelly sold 3,161 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $44.47, for a total value of $140,569.67. Following the transaction, the insider now owns 126,009 shares in the company, valued at approximately $5,603,620.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,143 shares of company stock worth $5,705,213. Insiders own 12.64% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Tuesday, April 30th. TheStreet downgraded shares of Godaddy from a “b” rating to a “c” rating in a report on Tuesday, May 21st. Morgan Stanley set a $95.00 price target on shares of Godaddy and gave the stock a “buy” rating in a report on Friday, May 3rd. Barclays reiterated a “buy” rating and issued a $90.00 price target on shares of Godaddy in a report on Monday, May 6th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $90.00 price target on shares of Godaddy in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.89.

Godaddy stock traded up $1.49 during mid-day trading on Tuesday, hitting $64.09. The company had a trading volume of 67,627 shares, compared to its average volume of 2,045,486. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. Godaddy Inc has a 12-month low of $56.67 and a 12-month high of $84.97. The firm’s fifty day moving average is $71.01. The stock has a market cap of $11.35 billion, a P/E ratio of 101.26, a price-to-earnings-growth ratio of 7.19 and a beta of 0.63.

Godaddy (NYSE:GDDY) last released 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 return on equity of 11.44% and a net margin of 1.98%. The company had revenue of $737.20 million during the quarter, compared to analysts’ expectations of $735.40 million. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that Godaddy Inc will post 0.52 earnings per share for the current fiscal year.

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. 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.

Further Reading: Recession

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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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