Pinebridge Investments L.P. decreased its position in shares of Godaddy Inc (NYSE:GDDY) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,173 shares of the technology company’s stock after selling 324 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.09% of Godaddy worth $11,798,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of GDDY. Profund Advisors LLC lifted its stake in shares of Godaddy by 2.1% during the 2nd quarter. Profund Advisors LLC now owns 65,064 shares of the technology company’s stock worth $4,564,000 after purchasing an additional 1,333 shares during the last quarter. North Peak Capital Management LLC purchased a new stake in shares of Godaddy during the 2nd quarter worth $19,972,000. APG Asset Management N.V. lifted its stake in shares of Godaddy by 15.6% during the 2nd quarter. APG Asset Management N.V. now owns 48,200 shares of the technology company’s stock worth $2,969,000 after purchasing an additional 6,500 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Godaddy by 10.5% during the 2nd quarter. Captrust Financial Advisors now owns 5,251 shares of the technology company’s stock worth $368,000 after purchasing an additional 501 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in shares of Godaddy by 6.8% during the 2nd quarter. MML Investors Services LLC now owns 4,144 shares of the technology company’s stock worth $291,000 after purchasing an additional 265 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors and hedge funds.
Godaddy stock traded up $0.44 during midday trading on Friday, reaching $66.14. The company’s stock had a trading volume of 41,241 shares, compared to its average volume of 1,498,619. The stock’s 50-day simple moving average is $66.22 and its 200-day simple moving average is $72.68. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. Godaddy Inc has a 52-week low of $56.67 and a 52-week high of $84.97. The stock has a market capitalization of $11.67 billion, a P/E ratio of 104.84, a PEG ratio of 7.40 and a beta of 0.68.
A number of equities research analysts recently weighed in on the company. Raymond James decreased their price objective on Godaddy from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TheStreet cut Godaddy from a “b” rating to a “c” rating in a research note on Tuesday, May 21st. ValuEngine cut Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks set a $90.00 price objective on Godaddy and gave the stock a “buy” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $88.89.
In other news, CEO Scott Wagner sold 7,606 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $70.10, for a total value of $533,180.60. Following the transaction, the chief executive officer now directly owns 219,804 shares of the company’s stock, valued at $15,408,260.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca Morrow sold 384 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $74.90, for a total value of $28,761.60. Following the completion of the transaction, the insider now directly owns 8,316 shares in the company, valued at $622,868.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,929 shares of company stock valued at $1,731,946. 12.64% 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. 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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