Handelsinvest Investeringsforvaltning Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Handelsinvest Investeringsforvaltning lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 21.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,493 shares of the technology company’s stock after selling 3,473 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in GoDaddy were worth $1,483,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GDDY. Gulf International Bank UK Ltd raised its stake in shares of GoDaddy by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock valued at $1,427,000 after acquiring an additional 113 shares in the last quarter. Ingalls & Snyder LLC raised its stake in shares of GoDaddy by 0.3% in the fourth quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after purchasing an additional 120 shares during the last quarter. GAMMA Investing LLC raised its position in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Quent Capital LLC raised its position in GoDaddy by 30.8% during the fourth quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after acquiring an additional 150 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in GoDaddy by 27.4% in the fourth quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock valued at $77,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $143.46 on Wednesday. The firm’s 50-day moving average price is $135.52 and its two-hundred day moving average price is $120.88. The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 11.87 and a beta of 1.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy Inc. has a 1-year low of $69.18 and a 1-year high of $143.90.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, equities analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GDDY. Piper Sandler lifted their price target on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Robert W. Baird increased their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Royal Bank of Canada increased their price target on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. UBS Group raised their price target on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Barclays lifted their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $149.92.

Insider Activity

In other news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now directly owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The disclosure for this sale can be found here. Insiders have sold 41,571 shares of company stock valued at $5,687,391 in the last ninety days. 0.61% of the stock is owned by company insiders.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.