Principal Financial Group Inc. boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 272.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 402,723 shares of the company’s stock after buying an additional 294,633 shares during the period. Principal Financial Group Inc. owned about 0.26% of GoDaddy worth $12,561,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Independent Portfolio Consultants Inc. boosted its stake in GoDaddy by 12.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,965 shares of the company’s stock worth $124,000 after buying an additional 425 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in GoDaddy during the first quarter worth approximately $963,000. Granahan Investment Management Inc. MA bought a new stake in GoDaddy during the first quarter worth approximately $7,024,000. HBK Investments L P bought a new stake in GoDaddy during the first quarter worth approximately $1,345,000. Finally, Wellington Management Group LLP boosted its stake in GoDaddy by 266.8% in the first quarter. Wellington Management Group LLP now owns 776,803 shares of the company’s stock worth $25,114,000 after buying an additional 565,022 shares in the last quarter.
Shares of GoDaddy Inc. (NYSE:GDDY) opened at 35.96 on Tuesday. GoDaddy Inc. has a 52-week low of $23.88 and a 52-week high of $36.03. The firm’s market capitalization is $5.48 billion. The company has a 50 day moving average of $33.52 and a 200 day moving average of $31.77.
GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.04. The company earned $456.20 million during the quarter, compared to analyst estimates of $450.51 million. GoDaddy had a negative return on equity of 3.30% and a negative net margin of 1.26%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.46) EPS. On average, analysts anticipate that GoDaddy Inc. will post ($0.04) earnings per share for the current fiscal year.
Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Summit Redstone assumed coverage on shares of GoDaddy in a report on Monday, October 3rd. They issued a “buy” rating and a $41.00 target price on the stock. Piper Jaffray Cos. set a $40.00 price objective on shares of GoDaddy and gave the stock a “buy” rating in a report on Monday, September 19th. B. Riley restated a “neutral” rating and issued a $33.50 target price on shares of GoDaddy in a research note on Tuesday, August 9th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $38.00 target price (up previously from $37.00) on shares of GoDaddy in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $37.63.
In other GoDaddy news, EVP James M. Carroll sold 60,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $32.04, for a total value of $1,922,400.00. Following the completion of the sale, the executive vice president now directly owns 60,091 shares of the company’s stock, valued at approximately $1,925,315.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Blake Irving sold 37,500 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $33.09, for a total transaction of $1,240,875.00. Following the completion of the sale, the chief executive officer now directly owns 38,809 shares of the company’s stock, valued at $1,284,189.81. The disclosure for this sale can be found here. 25.70% of the stock is currently owned by corporate insiders.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company 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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