First Trust Advisors LP Has $225.81 Million Stake in Godaddy Inc (GDDY)

First Trust Advisors LP trimmed its stake in Godaddy Inc (NYSE:GDDY) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,003,133 shares of the technology company’s stock after selling 356,102 shares during the quarter. Godaddy makes up 0.4% of First Trust Advisors LP’s portfolio, making the stock its 28th biggest holding. First Trust Advisors LP’s holdings in Godaddy were worth $225,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in Godaddy by 210.2% in the 3rd quarter. Legal & General Group Plc now owns 572,553 shares of the technology company’s stock valued at $47,745,000 after purchasing an additional 387,961 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Godaddy by 12.0% during 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 acquiring an additional 1,486,378 shares during the last quarter. Strs Ohio raised its stake in shares of Godaddy by 14.5% during the fourth quarter. Strs Ohio now owns 5,496 shares of the technology company’s stock valued at $360,000 after acquiring an additional 694 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Godaddy by 27.3% during the fourth quarter. IFM Investors Pty Ltd now owns 9,619 shares of the technology company’s stock valued at $631,000 after acquiring an additional 2,062 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in Godaddy by 7.3% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,428 shares of the technology company’s stock worth $618,000 after buying an additional 644 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

In other Godaddy news, insider Nima Kelly sold 683 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $72.43, for a total value of $49,469.69. Following the completion of the transaction, the insider now directly owns 119,595 shares in the company, valued at approximately $8,662,265.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 633 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $75.14, for a total transaction of $47,563.62. Following the completion of the transaction, the chief accounting officer now owns 8,079 shares of the company’s stock, valued at $607,056.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,078 shares of company stock valued at $17,866,555. 12.64% of the stock is owned by corporate insiders.

A number of research firms have commented on GDDY. JPMorgan Chase & Co. raised their price target on shares of Godaddy to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 21st. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Tuesday, April 30th. Barclays reiterated a “buy” rating and set a $90.00 price objective on shares of Godaddy in a report on Monday, May 6th. TheStreet upgraded shares of Godaddy from a “c+” rating to a “b” rating in a report on Thursday, February 21st. Finally, Morgan Stanley set a $95.00 price objective on shares of Godaddy and gave the stock a “buy” rating in a research report on Friday, May 3rd. Two 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 a consensus price target of $89.25.

NYSE GDDY opened at $75.37 on Friday. Godaddy Inc has a 12-month low of $56.67 and a 12-month high of $84.97. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $13.40 billion, a PE ratio of 119.63, a price-to-earnings-growth ratio of 6.19 and a beta of 0.67.

Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The business had revenue of $710.00 million during the quarter, compared to the consensus estimate of $711.18 million. Godaddy had a net margin of 3.17% and a return on equity of 11.89%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Research analysts predict that Godaddy Inc will post 0.72 earnings per share for the current fiscal year.

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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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