Eaton Vance Management lowered its holdings in shares of Godaddy Inc (NYSE:GDDY) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,453,359 shares of the technology company’s stock after selling 49,582 shares during the quarter. Eaton Vance Management’s holdings in Godaddy were worth $73,075,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. American International Group Inc. purchased a new position in Godaddy during the 4th quarter valued at approximately $150,000. Public Employees Retirement Association of Colorado grew its holdings in Godaddy by 49.3% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 3,675 shares of the technology company’s stock valued at $160,000 after buying an additional 1,213 shares in the last quarter. US Bancorp DE grew its holdings in Godaddy by 10,297.6% during the 4th quarter. US Bancorp DE now owns 4,263 shares of the technology company’s stock valued at $214,000 after buying an additional 4,222 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Godaddy by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after buying an additional 397 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Godaddy during the 4th quarter valued at approximately $258,000. Hedge funds and other institutional investors own 84.84% of the company’s stock.
In related news, insider Barbara J. Rechterman sold 39,314 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $47.09, for a total transaction of $1,851,296.26. Following the completion of the sale, the insider now directly owns 28,613 shares of the company’s stock, valued at approximately $1,347,386.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rick Kimball sold 7,102,622 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $47.12, for a total value of $334,675,548.64. The disclosure for this sale can be found here. Insiders sold a total of 7,789,449 shares of company stock valued at $369,320,793 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.
Godaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.44. The business had revenue of $602.20 million during the quarter, compared to analyst estimates of $594.60 million. Godaddy had a return on equity of 7.89% and a net margin of 2.34%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. sell-side analysts predict that Godaddy Inc will post 0.28 earnings per share for the current fiscal year.
Several research firms have weighed in on GDDY. B. Riley raised their price target on Godaddy from $53.00 to $65.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer restated a “buy” rating and set a $53.00 price target (up previously from $50.00) on shares of Godaddy in a report on Tuesday, November 7th. Zacks Investment Research upgraded Godaddy from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. TheStreet upgraded Godaddy from a “c-” rating to a “b-” rating in a report on Tuesday, November 7th. Finally, Wedbush began coverage on Godaddy in a report on Friday, December 8th. They set a “neutral” rating and a $52.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Godaddy has a consensus rating of “Buy” and a consensus price target of $53.71.
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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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