GoDaddy Inc. (NYSE:GDDY) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 22.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 65,300 shares of the technology company’s stock after selling 18,700 shares during the period. Forsta AP Fonden’s holdings in GoDaddy were worth $9,123,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Principal Securities Inc. purchased a new position in shares of GoDaddy in the fourth quarter worth about $109,000. Jump Financial LLC purchased a new position in GoDaddy in the 4th quarter worth approximately $292,000. Ieq Capital LLC purchased a new position in GoDaddy in the 4th quarter worth approximately $237,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of GoDaddy by 177.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,413 shares of the technology company’s stock worth $1,636,000 after purchasing an additional 9,862 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of GoDaddy by 55.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,398 shares of the technology company’s stock valued at $2,272,000 after purchasing an additional 7,646 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GDDY. B. Riley lifted their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Royal Bank of Canada boosted their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Barclays boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Citigroup raised their price target on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.08.

Insider Activity at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,744 shares of company stock worth $4,664,216. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 0.2 %

GDDY opened at $152.27 on Friday. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The business has a fifty day simple moving average of $153.13 and a 200-day simple moving average of $137.21. The firm has a market cap of $21.47 billion, a P/E ratio of 12.65 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. On average, equities analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current year.

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.