Godaddy Inc (GDDY) Shares Bought by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY lifted its holdings in shares of Godaddy Inc (NYSE:GDDY) by 25.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,794 shares of the technology company’s stock after purchasing an additional 2,401 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Godaddy were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GDDY. LS Investment Advisors LLC purchased a new position in shares of Godaddy during the 2nd quarter worth $138,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Godaddy during the 2nd quarter valued at about $169,000. Itau Unibanco Holding S.A. purchased a new position in Godaddy during the 2nd quarter valued at about $189,000. Redpoint Investment Management Pty Ltd purchased a new position in Godaddy during the 2nd quarter valued at about $221,000. Finally, First Republic Investment Management Inc. purchased a new position in Godaddy during the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 93.61% of the company’s stock.
Shares of GDDY opened at $80.59 on Tuesday. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $13.85 billion, a PE ratio of 259.36, a P/E/G ratio of 8.61 and a beta of 0.63. Godaddy Inc has a 1 year low of $42.54 and a 1 year high of $84.67.
In other news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of Godaddy stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $264,635,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 50,000 shares of Godaddy stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $76.55, for a total value of $3,827,500.00. Following the completion of the transaction, the chief financial officer now owns 101,831 shares of the company’s stock, valued at approximately $7,795,163.05. The disclosure for this sale can be found here. Insiders sold a total of 7,740,557 shares of company stock valued at $585,772,252 in the last quarter. Company insiders own 7.63% of the company’s stock.
A number of equities analysts recently commented on GDDY shares. TheStreet upgraded Godaddy from a “c+” rating to a “b-” rating in a report on Friday, August 24th. SunTrust Banks raised their target price on Godaddy to $87.00 and gave the company a “buy” rating in a report on Monday, July 30th. Zacks Investment Research upgraded Godaddy from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Wednesday, July 25th. JPMorgan Chase & Co. raised their target price on Godaddy to $80.00 and gave the company a “neutral” rating in a report on Friday, August 3rd. Finally, Wedbush restated a “neutral” rating and set a $85.00 target price on shares of Godaddy in a report on Thursday, September 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $77.00.
Godaddy Company Profile
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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