Candriam Luxembourg S.C.A. acquired a new position in Godaddy Inc (NYSE:GDDY) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 42,693 shares of the technology company’s stock, valued at approximately $2,801,000.
A number of other hedge funds have also modified their holdings of the stock. Lunia Capital LP lifted its position in shares of Godaddy by 5,352.6% during the 4th quarter. Lunia Capital LP now owns 10,922,121 shares of the technology company’s stock valued at $10,922,000 after acquiring an additional 10,721,812 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Godaddy by 12.0% in the third quarter. Vanguard Group Inc now owns 13,874,432 shares of the technology company’s stock valued at $1,156,988,000 after purchasing an additional 1,486,378 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Godaddy by 15.5% in the third quarter. BlackRock Inc. now owns 9,965,469 shares of the technology company’s stock valued at $831,020,000 after purchasing an additional 1,335,899 shares in the last quarter. Partner Fund Management L.P. lifted its holdings in shares of Godaddy by 98.2% in the fourth quarter. Partner Fund Management L.P. now owns 2,210,808 shares of the technology company’s stock valued at $145,073,000 after purchasing an additional 1,095,607 shares in the last quarter. Finally, Brahman Capital Corp. lifted its holdings in shares of Godaddy by 22.8% in the fourth quarter. Brahman Capital Corp. now owns 3,367,519 shares of the technology company’s stock valued at $220,977,000 after purchasing an additional 624,221 shares in the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.
GDDY opened at $74.99 on Monday. The firm has a market capitalization of $13.15 billion, a PE ratio of 119.03, a price-to-earnings-growth ratio of 5.37 and a beta of 0.66. Godaddy Inc has a 12-month low of $56.67 and a 12-month high of $84.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.90.
GDDY has been the subject of a number of research analyst reports. Morgan Stanley set a $88.00 target price on Godaddy and gave the company a “buy” rating in a report on Wednesday, November 28th. Zacks Investment Research upgraded Godaddy from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Piper Jaffray Companies restated an “overweight” rating and issued a $97.00 target price on shares of Godaddy in a report on Thursday, February 21st. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on Godaddy to $83.00 and gave the company a “neutral” rating in a report on Thursday, February 21st. Finally, Citigroup increased their target price on Godaddy from $82.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $85.17.
In other Godaddy news, EVP Arne Josefsberg sold 45,000 shares of the stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $63.48, for a total transaction of $2,856,600.00. Following the transaction, the executive vice president now directly owns 46,471 shares of the company’s stock, valued at $2,949,979.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nima Kelly sold 1,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $75.51, for a total transaction of $75,510.00. Following the transaction, the insider now directly owns 119,451 shares in the company, valued at $9,019,745.01. The disclosure for this sale can be found here. Insiders sold 229,866 shares of company stock worth $16,333,840 over the last ninety days. 7.63% of the stock is currently owned by company insiders.
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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