Daiwa Securities Group Inc. Purchases 3,325 Shares of Godaddy Inc (NYSE:GDDY)

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Daiwa Securities Group Inc. raised its position in Godaddy Inc (NYSE:GDDY) by 7.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,130 shares of the technology company’s stock after acquiring an additional 3,325 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Godaddy were worth $3,176,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Redhawk Wealth Advisors Inc. bought a new position in shares of Godaddy in the second quarter worth about $27,000. Commonwealth Bank of Australia raised its stake in shares of Godaddy by 80.1% in the second quarter. Commonwealth Bank of Australia now owns 508 shares of the technology company’s stock worth $35,000 after buying an additional 226 shares during the period. CSat Investment Advisory L.P. bought a new position in shares of Godaddy in the second quarter worth about $66,000. Coastal Investment Advisors Inc. bought a new position in shares of Godaddy in the third quarter worth about $99,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Godaddy by 57.1% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,200 shares of the technology company’s stock worth $154,000 after buying an additional 800 shares during the period. 96.95% of the stock is currently owned by institutional investors.

NYSE:GDDY opened at $69.00 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64. Godaddy Inc has a 12-month low of $56.67 and a 12-month high of $82.30. The stock has a 50-day moving average price of $64.51 and a 200 day moving average price of $69.57. The stock has a market capitalization of $11.10 billion, a P/E ratio of 109.52, a P/E/G ratio of 9.25 and a beta of 0.68.

Godaddy (NYSE:GDDY) last released its earnings results on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Godaddy had a return on equity of 11.44% and a net margin of 1.98%. The firm had revenue of $760.50 million during the quarter, compared to analysts’ expectations of $761.04 million. During the same quarter last year, the business posted $0.08 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, research analysts predict that Godaddy Inc will post 0.48 earnings per share for the current fiscal year.

In related news, Director Brian Sharples sold 850 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.26, for a total transaction of $52,921.00. Following the completion of the sale, the director now owns 11,798 shares in the company, valued at $734,543.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ah Kee Andrew Low sold 1,022 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $62.86, for a total value of $64,242.92. Following the sale, the chief operating officer now owns 62,228 shares of the company’s stock, valued at approximately $3,911,652.08. The disclosure for this sale can be found here. Insiders have sold 7,351 shares of company stock valued at $469,536 in the last quarter. 12.64% of the stock is currently owned by company insiders.

GDDY has been the topic of several recent research reports. Wedbush reaffirmed a “neutral” rating on shares of Godaddy in a research note on Monday, November 4th. SunTrust Banks reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Godaddy in a research note on Friday, November 1st. Barclays raised their price objective on Godaddy from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. ValuEngine downgraded Godaddy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Jaffray Companies decreased their price objective on Godaddy from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Godaddy currently has an average rating of “Buy” and an average target price of $88.63.

Godaddy 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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