Shares of GoDaddy Inc. (NYSE:GDDY) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $44.56 and last traded at $44.27, with a volume of 2,214,240 shares changing hands. The stock had previously closed at $42.45.
The technology company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.10. GoDaddy had a negative net margin of 0.28% and a positive return on equity of 0.73%. The business had revenue of $557.80 million for the quarter, compared to analyst estimates of $551.26 million. During the same quarter in the prior year, the business earned ($0.11) EPS. GoDaddy’s quarterly revenue was up 22.3% on a year-over-year basis.
GDDY has been the topic of a number of analyst reports. Piper Jaffray Companies restated an “overweight” rating and set a $50.00 target price (up previously from $46.00) on shares of GoDaddy in a research report on Tuesday, May 16th. Zacks Investment Research lowered shares of GoDaddy from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Cantor Fitzgerald restated a “hold” rating on shares of GoDaddy in a research report on Monday, June 26th. BidaskClub lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus set a $41.00 target price on shares of GoDaddy and gave the stock a “hold” rating in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.62.
In other news, insider Auguste Goldman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $38.98, for a total transaction of $38,980.00. Following the completion of the sale, the insider now owns 6,491 shares of the company’s stock, valued at approximately $253,019.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Blake Irving sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $42.04, for a total transaction of $1,576,500.00. Following the sale, the chief executive officer now directly owns 40,606 shares of the company’s stock, valued at approximately $1,707,076.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,956 shares of company stock valued at $26,627,864. 25.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $15,881,000. Bank of New York Mellon Corp increased its position in shares of GoDaddy by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 163,361 shares of the technology company’s stock valued at $6,192,000 after buying an additional 1,524 shares during the last quarter. Teachers Advisors LLC increased its position in shares of GoDaddy by 30.4% in the fourth quarter. Teachers Advisors LLC now owns 61,926 shares of the technology company’s stock valued at $2,164,000 after buying an additional 14,419 shares during the last quarter. Vanguard Group Inc. increased its position in shares of GoDaddy by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock valued at $225,720,000 after buying an additional 380,343 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of GoDaddy by 76.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,620 shares of the technology company’s stock valued at $3,552,000 after buying an additional 43,957 shares during the last quarter.
The company’s market capitalization is $3.99 billion. The company’s 50-day moving average is $42.75 and its 200 day moving average is $39.15.
GoDaddy Company Profile
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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