Penn Capital Management Co. Inc. Lowers Holdings in Godaddy Inc (GDDY)

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Penn Capital Management Co. Inc. reduced its holdings in shares of Godaddy Inc (NYSE:GDDY) by 4.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 19,468 shares of the technology company’s stock after selling 930 shares during the period. Penn Capital Management Co. Inc.’s holdings in Godaddy were worth $4,444,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Flinton Capital Management LLC acquired a new stake in shares of Godaddy in the fourth quarter valued at about $27,000. Lindbrook Capital LLC lifted its stake in shares of Godaddy by 65.4% in the first quarter. Lindbrook Capital LLC now owns 574 shares of the technology company’s stock valued at $43,000 after purchasing an additional 227 shares during the period. Parallel Advisors LLC lifted its stake in shares of Godaddy by 15.8% in the fourth quarter. Parallel Advisors LLC now owns 1,516 shares of the technology company’s stock valued at $99,000 after purchasing an additional 207 shares during the period. TD Asset Management Inc. lifted its stake in shares of Godaddy by 24.5% in the fourth quarter. TD Asset Management Inc. now owns 3,284 shares of the technology company’s stock valued at $215,000 after purchasing an additional 646 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Godaddy in the fourth quarter valued at about $255,000. 98.77% of the stock is currently owned by institutional investors.

Shares of GDDY opened at $75.93 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.72. The stock has a market cap of $13.42 billion, a price-to-earnings ratio of 120.52, a price-to-earnings-growth ratio of 6.13 and a beta of 0.67. Godaddy Inc has a 12-month low of $56.67 and a 12-month high of $84.97.

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

Several analysts recently commented on GDDY shares. Zacks Investment Research upgraded shares of Godaddy from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised their price objective on shares of Godaddy to $83.00 and gave the company a “neutral” rating in a research note on Thursday, February 21st. Morgan Stanley set a $95.00 price objective on shares of Godaddy and gave the company a “buy” rating in a research note on Friday, May 3rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $97.00 price objective on shares of Godaddy in a research note on Thursday, February 21st. They noted that the move was a valuation call. Finally, Citigroup raised their price objective on shares of Godaddy from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $88.67.

In other Godaddy news, insider Nima Kelly sold 683 shares of Godaddy stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $72.43, for a total transaction of $49,469.69. Following the completion of the transaction, the insider now owns 119,595 shares in the company, valued at $8,662,265.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James M. Carroll sold 52,042 shares of Godaddy stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $78.01, for a total transaction of $4,059,796.42. Following the transaction, the insider now owns 99,818 shares of the company’s stock, valued at approximately $7,786,802.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,277 shares of company stock valued at $20,340,937. 12.64% of the stock is currently owned by company insiders.

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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. 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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