Riverbridge Partners LLC Sells 2,555 Shares of Godaddy Inc (NYSE:GDDY)
Riverbridge Partners LLC trimmed its holdings in Godaddy Inc (NYSE:GDDY) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 562,433 shares of the technology company’s stock after selling 2,555 shares during the period. Riverbridge Partners LLC owned approximately 0.33% of Godaddy worth $38,200,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Godaddy by 23.7% in the second quarter. BlackRock Inc. now owns 14,344,269 shares of the technology company’s stock worth $1,006,251,000 after acquiring an additional 2,747,523 shares during the period. Nuveen Asset Management LLC grew its holdings in Godaddy by 3,070.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,805,367 shares of the technology company’s stock valued at $196,797,000 after buying an additional 2,716,877 shares in the last quarter. Marshall Wace LLP grew its holdings in Godaddy by 1,989.7% during the 2nd quarter. Marshall Wace LLP now owns 1,878,596 shares of the technology company’s stock valued at $131,784,000 after buying an additional 1,788,699 shares in the last quarter. Eminence Capital LP bought a new stake in shares of Godaddy during the second quarter valued at about $103,895,000. Finally, Waddell & Reed Financial Inc. bought a new stake in shares of Godaddy during the second quarter valued at about $61,997,000. Institutional investors and hedge funds own 96.65% of the company’s stock.
GDDY has been the subject of several recent analyst reports. TheStreet raised shares of Godaddy from a “c+” rating to a “b-” rating in a research note on Monday, November 18th. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a report on Monday, November 4th. SunTrust Banks reaffirmed a “buy” rating and issued a $90.00 price target on shares of Godaddy in a report on Friday, November 1st. ValuEngine upgraded Godaddy from a “sell” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Royal Bank of Canada assumed coverage on Godaddy in a research note on Thursday, January 2nd. They set a “buy” rating and a $81.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.44.
Godaddy (NYSE:GDDY) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. Godaddy had a net margin of 4.10% and a return on equity of 19.05%. The business had revenue of $760.50 million during the quarter, compared to analyst estimates of $761.04 million. During the same period in the previous year, the business posted $0.08 earnings per share. Godaddy’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts predict that Godaddy Inc will post 0.79 EPS for the current fiscal year.
In other news, insider Nima Kelly sold 11,929 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $71.36, for a total transaction of $851,253.44. Following the sale, the insider now owns 128,605 shares in the company, valued at approximately $9,177,252.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian Sharples sold 850 shares of Godaddy stock in a transaction on Monday, December 16th. The stock was sold at an average price of $67.53, for a total transaction of $57,400.50. Following the sale, the director now directly owns 10,098 shares of the company’s stock, valued at $681,917.94. The disclosure for this sale can be found here. Insiders sold a total of 26,310 shares of company stock worth $1,832,031 in the last three months. Insiders own 12.64% of the company’s stock.
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals 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; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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