Highbridge Capital Management LLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 112.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,596 shares of the technology company’s stock after buying an additional 7,204 shares during the period. Highbridge Capital Management LLC’s holdings in GoDaddy were worth $515,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of GDDY. Russell Investments Group Ltd. acquired a new stake in shares of GoDaddy during the fourth quarter worth about $1,567,000. State Board of Administration of Florida Retirement System raised its stake in shares of GoDaddy by 3.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 39,160 shares of the technology company’s stock worth $1,369,000 after buying an additional 1,346 shares during the period. State Street Corp raised its stake in shares of GoDaddy by 11.6% in the fourth quarter. State Street Corp now owns 556,589 shares of the technology company’s stock worth $19,448,000 after buying an additional 57,895 shares during the period. Dimensional Fund Advisors LP increased its position in shares of GoDaddy by 76.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,620 shares of the technology company’s stock worth $3,552,000 after buying an additional 43,957 shares in the last quarter. Finally, Allianz Asset Management AG bought a new position in shares of GoDaddy during the fourth quarter worth approximately $3,910,000.
GoDaddy Inc. (NYSE GDDY) traded down 0.30% during mid-day trading on Friday, reaching $43.23. The company’s stock had a trading volume of 433,201 shares. The firm has a 50 day moving average price of $42.61 and a 200-day moving average price of $38.89. GoDaddy Inc. has a 1-year low of $28.13 and a 1-year high of $44.22. The company’s market capitalization is $3.92 billion.
GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, May 2nd. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $489.70 million for the quarter, compared to the consensus estimate of $487.77 million. GoDaddy had a positive return on equity of 0.73% and a negative net margin of 0.28%. On average, equities analysts predict that GoDaddy Inc. will post $0.21 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the company. B. Riley reaffirmed a “buy” rating and issued a $47.00 price target on shares of GoDaddy in a report on Wednesday, May 3rd. BidaskClub downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research downgraded GoDaddy from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Barclays PLC upped their price target on GoDaddy from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $50.00 price target (up from $46.00) on shares of GoDaddy in a report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. GoDaddy has an average rating of “Buy” and a consensus target price of $43.75.
In other news, Director Robert R. Parsons sold 8,015,760 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $37.44, for a total value of $300,110,054.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $43.42, for a total value of $1,519,700.00. Following the completion of the sale, the insider now directly owns 54,741 shares in the company, valued at approximately $2,376,854.22. The disclosure for this sale can be found here. Insiders sold a total of 20,329,413 shares of company stock worth $764,050,069 in the last three months. Company insiders own 25.70% of the company’s stock.
GoDaddy Company Profile
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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