Swedbank AB Trims Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Swedbank AB reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 152,695 shares of the technology company’s stock after selling 658 shares during the period. Swedbank AB’s holdings in GoDaddy were worth $23,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GDDY. Federated Hermes Inc. raised its stake in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the period. Dimensional Fund Advisors LP raised its position in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the period. Fiera Capital Corp lifted its stake in shares of GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after buying an additional 13,206 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in GoDaddy by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 525,944 shares of the technology company’s stock worth $73,480,000 after buying an additional 11,121 shares during the period. Finally, APG Asset Management N.V. increased its stake in GoDaddy by 57.2% in the 2nd quarter. APG Asset Management N.V. now owns 499,990 shares of the technology company’s stock worth $65,177,000 after buying an additional 181,944 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $197.43 on Tuesday. The stock has a market cap of $27.72 billion, a price-to-earnings ratio of 15.26 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $166.62 and a 200-day moving average price of $153.61. GoDaddy Inc. has a one year low of $94.50 and a one year high of $200.16.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on 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 owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,845 shares of company stock valued at $4,803,380 in the last ninety days. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.31.

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.