Forsta AP Fonden Sells 28,100 Shares of GoDaddy Inc. (NYSE:GDDY)

Forsta AP Fonden lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 42.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its position in 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 raised its position in shares of GoDaddy by 3,227.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after buying an additional 350,839 shares in the last quarter. FMR LLC lifted its holdings 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 worth $260,299,000 after acquiring an additional 274,014 shares during the last quarter. Intech Investment Management LLC grew its position in GoDaddy by 498.7% in the third quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock worth $39,723,000 after acquiring an additional 211,051 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in GoDaddy by 17.5% in the third 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 last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GDDY shares. Morgan Stanley lifted their price target on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted 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. Finally, Piper Sandler upped their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $198.07.

GoDaddy Stock Down 0.3 %

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 stock has a market capitalization of $29.95 billion, a PE 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 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 return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction that occurred on 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 in the company, valued at $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,483 shares of company stock worth $4,256,183 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

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.