Forsta AP Fonden Cuts Stake in GoDaddy Inc. (NYSE:GDDY)

Forsta AP Fonden reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 42.3% in the fourth quarter, Holdings Channel reports. The firm owned 38,300 shares of the technology company’s stock after selling 28,100 shares during the quarter. Forsta AP Fonden’s holdings in GoDaddy were worth $7,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its holdings in shares of GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after purchasing an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after buying an additional 350,839 shares during the last quarter. FMR LLC grew its position in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares during the period. Intech Investment Management LLC grew its holdings in GoDaddy by 498.7% during the third quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock valued at $39,723,000 after purchasing an additional 211,051 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of GoDaddy by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after acquiring an additional 203,909 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.3 %

Shares of NYSE:GDDY opened at $213.32 on Friday. The business’s 50-day moving average is $202.16 and its 200 day moving average is $174.74. The firm has a market capitalization of $29.95 billion, a P/E ratio of 16.49 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1 year low of $106.42 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 770 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,483 shares of company stock worth $4,256,183. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on GDDY shares. B. Riley increased their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.07.

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.