Godaddy Inc (GDDY) Stake Decreased by Bank of Montreal Can
Bank of Montreal Can reduced its holdings in Godaddy Inc (NYSE:GDDY) by 88.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 48,071 shares of the technology company’s stock after selling 356,455 shares during the quarter. Bank of Montreal Can’s holdings in Godaddy were worth $2,417,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Godaddy by 48.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 362,619 shares of the technology company’s stock worth $15,777,000 after buying an additional 118,109 shares during the last quarter. Rhumbline Advisers grew its position in shares of Godaddy by 33.7% in the 3rd quarter. Rhumbline Advisers now owns 114,233 shares of the technology company’s stock worth $4,970,000 after buying an additional 28,774 shares during the last quarter. Capital International Investors grew its position in shares of Godaddy by 628.1% in the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock worth $161,665,000 after buying an additional 3,205,274 shares during the last quarter. CWM LLC bought a new stake in shares of Godaddy in the 4th quarter worth approximately $1,973,000. Finally, Ardsley Advisory Partners bought a new stake in shares of Godaddy in the 2nd quarter worth approximately $5,090,000. Hedge funds and other institutional investors own 84.66% of the company’s stock.
GDDY has been the topic of a number of recent analyst reports. BidaskClub upgraded Godaddy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 28th. Piper Jaffray Companies lifted their price objective on Godaddy from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, November 13th. Royal Bank of Canada restated a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research note on Wednesday, November 22nd. B. Riley restated a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research note on Wednesday, January 3rd. Finally, Jefferies Group raised their target price on Godaddy from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $51.80.
Godaddy Inc (NYSE GDDY) opened at $52.05 on Friday. The stock has a market capitalization of $8,545.58, a price-to-earnings ratio of 200.20, a price-to-earnings-growth ratio of 5.37 and a beta of 0.72. Godaddy Inc has a one year low of $34.58 and a one year high of $56.20. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.57.
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Godaddy Company Profile
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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