Envestnet Asset Management Inc. Raises Stake in Godaddy Inc (NYSE:GDDY)

Envestnet Asset Management Inc. raised its stake in Godaddy Inc (NYSE:GDDY) by 24.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,953 shares of the technology company’s stock after acquiring an additional 10,645 shares during the period. Envestnet Asset Management Inc.’s holdings in Godaddy were worth $3,560,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Redhawk Wealth Advisors Inc. bought a new position in Godaddy during the 2nd quarter valued at about $27,000. Commonwealth Bank of Australia boosted its position in Godaddy by 80.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock valued at $35,000 after buying an additional 226 shares during the period. CSat Investment Advisory L.P. purchased a new stake in Godaddy in the 2nd quarter valued at about $66,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Godaddy by 57.1% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,200 shares of the technology company’s stock valued at $154,000 after buying an additional 800 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in Godaddy by 1,467.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,288 shares of the technology company’s stock valued at $161,000 after buying an additional 2,142 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

In other news, insider Nima Kelly sold 1,160 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $65.52, for a total value of $76,003.20. Following the sale, the insider now owns 123,262 shares in the company, valued at $8,076,126.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 745 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $62.86, for a total transaction of $46,830.70. Following the completion of the sale, the director now owns 13,498 shares in the company, valued at approximately $848,484.28. The disclosure for this sale can be found here. Insiders have sold a total of 7,351 shares of company stock worth $469,536 in the last 90 days. 12.64% of the stock is currently owned by company insiders.

Several equities research analysts have issued reports on the stock. Barclays lowered their price objective on shares of Godaddy from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Raymond James lowered their price target on shares of Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a research report on Monday. ValuEngine cut shares of Godaddy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $90.00 price target on shares of Godaddy in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $89.25.

NYSE:GDDY opened at $73.03 on Friday. Godaddy Inc has a 52 week low of $56.67 and a 52 week high of $82.30. The firm has a 50 day moving average of $64.48 and a 200 day moving average of $69.62. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 115.92, a PEG ratio of 9.25 and a beta of 0.68.

Godaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.20. Godaddy had a net margin of 1.98% and a return on equity of 11.44%. The business had revenue of $760.50 million for the quarter, compared to analyst estimates of $761.04 million. During the same quarter in the prior year, the business posted $0.08 EPS. Godaddy’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that Godaddy Inc will post 0.48 EPS for the current year.

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. 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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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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