Vanguard Group Inc. Sells 541,082 Shares of Godaddy Inc (NYSE:GDDY)
Vanguard Group Inc. trimmed its stake in Godaddy Inc (NYSE:GDDY) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,836,026 shares of the technology company’s stock after selling 541,082 shares during the period. Vanguard Group Inc. owned 8.87% of Godaddy worth $1,110,898,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. White Elm Capital LLC raised its stake in shares of Godaddy by 6.4% in the 2nd quarter. White Elm Capital LLC now owns 251,873 shares of the technology company’s stock valued at $17,669,000 after acquiring an additional 15,200 shares in the last quarter. Private Advisor Group LLC bought a new position in Godaddy in the 2nd quarter worth approximately $238,000. Southeast Asset Advisors Inc. increased its position in Godaddy by 16.9% in the 2nd quarter. Southeast Asset Advisors Inc. now owns 31,930 shares of the technology company’s stock worth $2,240,000 after buying an additional 4,610 shares during the period. Spyglass Capital Management LLC increased its position in Godaddy by 22.7% in the 2nd quarter. Spyglass Capital Management LLC now owns 204,371 shares of the technology company’s stock worth $14,337,000 after buying an additional 37,768 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Godaddy by 6.2% in the 2nd quarter. Asset Management One Co. Ltd. now owns 171,557 shares of the technology company’s stock worth $12,036,000 after buying an additional 10,003 shares during the period. 96.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GDDY traded down $0.09 during trading on Monday, hitting $66.53. 20,477 shares of the stock were exchanged, compared to its average volume of 1,399,849. Godaddy Inc has a 1-year low of $56.67 and a 1-year high of $84.97. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 105.56, a price-to-earnings-growth ratio of 9.98 and a beta of 0.68. The company’s fifty day simple moving average is $64.95 and its 200-day simple moving average is $72.32. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85.
GDDY has been the topic of several recent analyst reports. Raymond James dropped their price target on Godaddy from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. SunTrust Banks reaffirmed a “buy” rating and issued a $90.00 price target on shares of Godaddy in a research report on Tuesday, September 17th. Finally, ValuEngine downgraded Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $89.38.
In other news, CFO Raymond E. Winborne, Jr. sold 449 shares of Godaddy stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $62.86, for a total transaction of $28,224.14. Following the sale, the chief financial officer now owns 87,885 shares of the company’s stock, valued at approximately $5,524,451.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rebecca Morrow sold 384 shares of Godaddy stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $74.90, for a total value of $28,761.60. Following the sale, the insider now directly owns 8,316 shares in the company, valued at approximately $622,868.40. The disclosure for this sale can be found here. Insiders have sold a total of 23,593 shares of company stock worth $1,639,110 in the last three months. 12.64% of the stock is owned by insiders.
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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