GoDaddy Inc. (NYSE:GDDY) Shares Sold by Tredje AP fonden

Tredje AP fonden lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,145 shares of the technology company’s stock after selling 345 shares during the quarter. Tredje AP fonden’s holdings in GoDaddy were worth $3,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter worth $181,687,000. Federated Hermes Inc. raised its holdings in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock valued at $96,166,000 after purchasing an additional 110,076 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,744 shares of company stock worth $4,816,386. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on GDDY shares. JPMorgan Chase & Co. increased their price target on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Raymond James lifted their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Barclays upped their price objective on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on shares of GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 target price for the company. Finally, Robert W. Baird boosted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $164.08.

GoDaddy Stock Up 3.8 %

GDDY stock opened at $160.18 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 firm has a 50-day simple moving average of $154.05 and a 200-day simple moving average of $138.35. The stock has a market capitalization of $22.86 billion, a P/E ratio of 13.30 and a beta of 1.13.

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 firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Equities analysts forecast that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

GoDaddy 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.