State of Alaska Department of Revenue Increases Stock Position in Godaddy Inc (NYSE:GDDY)

State of Alaska Department of Revenue raised its holdings in Godaddy Inc (NYSE:GDDY) by 45.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,405 shares of the technology company’s stock after purchasing an additional 12,540 shares during the quarter. State of Alaska Department of Revenue’s holdings in Godaddy were worth $2,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisor Group Inc. boosted its stake in shares of Godaddy by 1.5% during the 2nd quarter. Advisor Group Inc. now owns 10,545 shares of the technology company’s stock worth $740,000 after acquiring an additional 155 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in shares of Godaddy by 4.6% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 3,827 shares of the technology company’s stock worth $268,000 after purchasing an additional 168 shares during the last quarter. World Asset Management Inc raised its position in shares of Godaddy by 3.5% during the 2nd quarter. World Asset Management Inc now owns 5,777 shares of the technology company’s stock worth $405,000 after purchasing an additional 194 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of Godaddy by 80.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after purchasing an additional 226 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Godaddy by 3.4% during the 2nd quarter. TD Asset Management Inc. now owns 7,569 shares of the technology company’s stock worth $531,000 after purchasing an additional 252 shares during the last quarter. 96.56% of the stock is currently owned by institutional investors.

Shares of Godaddy stock traded up $0.10 during trading on Wednesday, hitting $61.63. 12,122 shares of the company were exchanged, compared to its average volume of 1,559,370. The firm has a 50 day moving average price of $64.67 and a 200 day moving average price of $71.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 97.94, a P/E/G ratio of 9.58 and a beta of 0.69. Godaddy Inc has a fifty-two week low of $56.67 and a fifty-two week high of $82.30.

Godaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04). The business had revenue of $737.20 million during the quarter, compared to analyst estimates of $735.40 million. Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Analysts predict that Godaddy Inc will post 0.48 earnings per share for the current year.

Several brokerages recently issued reports on GDDY. ValuEngine downgraded Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James cut their price objective on Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, SunTrust Banks restated a “buy” rating and set a $90.00 price objective on shares of Godaddy in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $89.38.

In other Godaddy news, Director Brian Sharples sold 800 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.00, for a total value of $58,400.00. Following the completion of the transaction, the director now directly owns 14,243 shares in the company, valued at approximately $1,039,739. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 449 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $62.86, for a total value of $28,224.14. Following the completion of the transaction, the chief financial officer now owns 87,885 shares of the company’s stock, valued at $5,524,451.10. The disclosure for this sale can be found here. Insiders sold a total of 11,987 shares of company stock valued at $822,349 over the last quarter. 12.64% of the stock is currently owned by insiders.

About Godaddy

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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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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