Swedbank AB Sells 658 Shares of GoDaddy Inc. (NYSE:GDDY)

Swedbank AB lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,695 shares of the technology company’s stock after selling 658 shares during the period. Swedbank AB owned 0.11% of GoDaddy worth $23,940,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares during the period. Prime Capital Investment Advisors LLC boosted its position in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after acquiring an additional 74 shares during the period. Lindbrook Capital LLC lifted its stake in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares during the period. Finally, Equitable Trust Co. lifted its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after purchasing an additional 107 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GDDY shares. Raymond James upped their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the 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 transaction, the director now owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,845 shares of company stock valued at $4,803,380. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 0.6 %

Shares of NYSE:GDDY opened at $197.43 on Tuesday. 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 $94.50 and a 1 year high of $200.16. The company has a market cap of $27.72 billion, a P/E ratio of 15.26 and a beta of 1.11. The stock’s fifty day moving average price is $166.62 and its 200-day moving average price is $153.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

GoDaddy Company Profile

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.