Procyon Advisors LLC boosted its position in GoDaddy Inc. (NYSE:GDDY – Get Rating) by 31.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,135 shares of the technology company's stock after buying an additional 1,214 shares during the quarter. Procyon Advisors LLC's holdings in GoDaddy were worth $357,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ellevest Inc. grew its stake in GoDaddy by 1,340.9% in the 1st quarter. Ellevest Inc. now owns 317 shares of the technology company's stock valued at $27,000 after buying an additional 295 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in GoDaddy in the 1st quarter valued at $31,000. IndexIQ Advisors LLC bought a new stake in GoDaddy in the 1st quarter valued at $37,000. Steward Partners Investment Advisory LLC boosted its holdings in GoDaddy by 179.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 558 shares of the technology company's stock valued at $47,000 after purchasing an additional 358 shares during the period. Finally, Vigilant Capital Management LLC bought a new stake in GoDaddy in the 2nd quarter valued at $41,000. 96.50% of the stock is currently owned by institutional investors and hedge funds.
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Insider Buying and Selling
In related news, CFO Mark Mccaffrey sold 9,776 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $69.86, for a total transaction of $682,951.36. Following the completion of the sale, the chief financial officer now owns 84,950 shares in the company, valued at approximately $5,934,607. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Nick Daddario sold 600 shares of GoDaddy stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $82.00, for a total transaction of $49,200.00. Following the completion of the sale, the chief accounting officer now owns 15,608 shares in the company, valued at approximately $1,279,856. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 9,776 shares of GoDaddy stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total transaction of $682,951.36. Following the transaction, the chief financial officer now directly owns 84,950 shares in the company, valued at approximately $5,934,607. The disclosure for this sale can be found here. Insiders sold 22,431 shares of company stock worth $1,613,907 in the last quarter. 0.37% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
GDDY has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of GoDaddy from $91.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, August 4th. Raymond James reduced their price target on shares of GoDaddy from $108.00 to $100.00 and set a "strong-buy" rating for the company in a report on Thursday, August 4th. Evercore ISI increased their price target on shares of GoDaddy to $91.00 in a report on Tuesday, August 9th. Jefferies Financial Group reduced their price target on shares of GoDaddy from $110.00 to $100.00 in a report on Tuesday, May 31st. Finally, Barclays increased their price target on shares of GoDaddy from $104.00 to $107.00 and gave the company an "overweight" rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $100.75.
GoDaddy Price Performance
NYSE:GDDY opened at $75.94 on Tuesday. The company has a 50-day moving average of $76.30 and a 200-day moving average of $76.58. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 36.69 and a beta of 0.93. GoDaddy Inc. has a 52 week low of $64.81 and a 52 week high of $88.32. The company has a debt-to-equity ratio of 46.37, a quick ratio of 0.63 and a current ratio of 0.63.
GoDaddy (NYSE:GDDY – Get Rating) last announced its earnings results on Wednesday, August 3rd. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. GoDaddy had a net margin of 8.58% and a negative return on equity of 147.44%. As a group, equities research analysts anticipate that GoDaddy Inc. will post 2.2 earnings per share for the current fiscal year.
About GoDaddy
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GoDaddy Inc engages in the design and development of cloud-based technology products 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. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.
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