Forsta AP Fonden Buys 1,100 Shares of GoDaddy Inc. (NYSE:GDDY)

Forsta AP Fonden lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,400 shares of the technology company’s stock after purchasing an additional 1,100 shares during the period. Forsta AP Fonden’s holdings in GoDaddy were worth $10,410,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in GoDaddy by 11.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,239 shares of the technology company’s stock worth $5,809,000 after purchasing an additional 3,729 shares during the period. Highland Capital Management LLC bought a new position in shares of GoDaddy in the 3rd quarter valued at about $1,132,000. Lake Street Advisors Group LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $215,000. E. Ohman J or Asset Management AB raised its stake in shares of GoDaddy by 17.6% during the third quarter. E. Ohman J or Asset Management AB now owns 6,000 shares of the technology company’s stock worth $941,000 after buying an additional 900 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in shares of GoDaddy during the third quarter worth approximately $289,000. Institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The sale 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 the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock valued at $5,114,931 over the last three months. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $160.53 on Monday. The firm has a market cap of $22.63 billion, a P/E ratio of 12.83 and a beta of 1.12. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The firm’s 50 day moving average price is $159.26 and its two-hundred day moving average price is $145.92.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, analysts forecast that GoDaddy Inc. will post 5.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GDDY. Barclays lifted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. B. Riley increased their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Benchmark restated a “buy” rating and set a $186.00 target price on shares of GoDaddy in a report on Tuesday, October 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $172.00 price target (up from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

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.