Morgan Stanley Purchases 1,912 Shares of Godaddy Inc (GDDY)

Morgan Stanley lifted its position in Godaddy Inc (NYSE:GDDY) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,420 shares of the technology company’s stock after acquiring an additional 1,912 shares during the quarter. Morgan Stanley owned 0.17% of Godaddy worth $24,386,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aperio Group LLC raised its holdings in shares of Godaddy by 82.1% in the third quarter. Aperio Group LLC now owns 31,827 shares of the technology company’s stock valued at $2,654,000 after acquiring an additional 14,347 shares in the last quarter. IBM Retirement Fund bought a new position in Godaddy in the third quarter worth about $218,000. Swiss National Bank raised its holdings in Godaddy by 4.3% in the third quarter. Swiss National Bank now owns 513,500 shares of the technology company’s stock worth $42,821,000 after purchasing an additional 21,400 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in Godaddy in the third quarter worth about $2,212,000. Finally, Rhumbline Advisers raised its holdings in Godaddy by 4.0% in the third quarter. Rhumbline Advisers now owns 161,646 shares of the technology company’s stock worth $13,480,000 after purchasing an additional 6,254 shares in the last quarter. Hedge funds and other institutional investors own 94.79% of the company’s stock.

In other news, CEO Scott Wagner sold 28,744 shares of the business’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,744,473.36. Following the sale, the chief executive officer now owns 156,607 shares in the company, valued at $9,504,478.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arne Josefsberg sold 33,803 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $73.45, for a total value of $2,482,830.35. Following the sale, the executive vice president now owns 33,348 shares in the company, valued at approximately $2,449,410.60. The disclosure for this sale can be found here. Insiders have sold 74,038 shares of company stock worth $4,943,679 in the last 90 days. Insiders own 7.63% of the company’s stock.

A number of equities analysts have commented on GDDY shares. Citigroup upgraded shares of Godaddy from a “neutral” rating to a “buy” rating in a report on Thursday, October 11th. ValuEngine downgraded shares of Godaddy from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Monday, October 1st. Morgan Stanley set a $88.00 target price on shares of Godaddy and gave the stock a “buy” rating in a report on Wednesday, November 28th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $87.00 target price on shares of Godaddy in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Godaddy has a consensus rating of “Buy” and a consensus target price of $78.07.

Shares of GDDY stock opened at $65.31 on Monday. Godaddy Inc has a fifty-two week low of $50.29 and a fifty-two week high of $84.97. The stock has a market cap of $11.33 billion, a PE ratio of 204.09, a price-to-earnings-growth ratio of 4.65 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.71 and a current ratio of 0.71.

Godaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). Godaddy had a return on equity of 8.01% and a net margin of 4.96%. The business had revenue of $679.50 million for the quarter, compared to analysts’ expectations of $673.79 million. During the same quarter in the previous year, the firm posted $0.17 EPS. Godaddy’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts predict that Godaddy Inc will post 0.34 EPS for the current year.

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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. 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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