Swedbank AB Grows Position in GoDaddy Inc. $GDDY

Swedbank AB grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 433.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 645,754 shares of the technology company’s stock after purchasing an additional 524,811 shares during the period. Swedbank AB’s holdings in GoDaddy were worth $80,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hemington Wealth Management boosted its holdings in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares in the last quarter. Rachor Investment Advisory Services LLC purchased a new position in GoDaddy in the fourth quarter valued at about $25,000. Activest Wealth Management increased its holdings in GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy during the 4th quarter valued at approximately $25,000. Finally, Root Financial Partners LLC purchased a new stake in shares of GoDaddy during the 3rd quarter worth approximately $31,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GDDY shares. Jefferies Financial Group lowered their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Morgan Stanley lowered their price objective on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Citigroup cut their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Evercore set a $95.00 price objective on shares of GoDaddy in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

GoDaddy Stock Performance

NYSE GDDY opened at $85.19 on Thursday. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.61. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $190.50. The firm has a market capitalization of $11.36 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.79 and a beta of 0.92. The business’s 50-day simple moving average is $84.72 and its 200-day simple moving average is $106.07.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that GoDaddy Inc. will post 7.17 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leah Sweet sold 650 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the sale, the director owned 11,414 shares of the company’s stock, valued at approximately $991,420.04. This trade represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 61,918 shares of company stock valued at $5,500,469 over the last ninety days. Insiders own 0.93% of the company’s stock.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.