Godaddy (GDDY) Trading 5.7% Higher

Godaddy Inc (NYSE:GDDY)’s share price traded up 5.7% during mid-day trading on Tuesday . The stock traded as high as $79.19 and last traded at $79.15. 2,113,433 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 1,674,290 shares. The stock had previously closed at $74.85.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Godaddy from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. TheStreet upgraded Godaddy from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. SunTrust Banks restated a “buy” rating and set a $87.00 price objective on shares of Godaddy in a research report on Monday, August 6th. Wedbush restated a “neutral” rating and set a $85.00 price objective on shares of Godaddy in a research report on Thursday, September 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Godaddy to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Godaddy has an average rating of “Buy” and a consensus target price of $77.60.

The company has a market cap of $14.37 billion, a PE ratio of 186.86, a PEG ratio of 8.93 and a beta of 0.63. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73.

Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $652.00 million for the quarter, compared to the consensus estimate of $643.59 million. Godaddy had a return on equity of 8.78% and a net margin of 5.83%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, equities research analysts anticipate that Godaddy Inc will post 0.55 EPS for the current year.

In related news, insider Steven Aldrich sold 14,185 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $76.01, for a total transaction of $1,078,201.85. Following the transaction, the insider now directly owns 41,781 shares of the company’s stock, valued at approximately $3,175,773.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Raymond E. Winborne, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $76.55, for a total value of $3,827,500.00. Following the transaction, the chief financial officer now directly owns 101,831 shares in the company, valued at $7,795,163.05. The disclosure for this sale can be found here. Insiders sold a total of 7,800,557 shares of company stock worth $590,768,080 over the last three months. 7.63% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Amalgamated Bank raised its stake in Godaddy by 30.4% during the 2nd quarter. Amalgamated Bank now owns 35,017 shares of the technology company’s stock worth $2,472,000 after buying an additional 8,157 shares during the period. US Bancorp DE increased its holdings in Godaddy by 25.6% during the 2nd quarter. US Bancorp DE now owns 7,649 shares of the technology company’s stock worth $540,000 after purchasing an additional 1,560 shares in the last quarter. Bank of America Corp DE increased its holdings in Godaddy by 154.4% during the 2nd quarter. Bank of America Corp DE now owns 1,696,012 shares of the technology company’s stock worth $119,738,000 after purchasing an additional 1,029,426 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Godaddy during the 2nd quarter worth approximately $384,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Godaddy during the 2nd quarter worth approximately $189,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Godaddy Company Profile (NYSE:GDDY)

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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