Achmea Investment Management B.V. Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Achmea Investment Management B.V. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 124,710 shares of the technology company’s stock after selling 5,395 shares during the period. Achmea Investment Management B.V.’s holdings in GoDaddy were worth $24,614,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in GoDaddy by 22.4% in the 3rd quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after acquiring an additional 108 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the 3rd quarter worth approximately $27,000. Apollon Wealth Management LLC raised its holdings in GoDaddy by 20.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,653 shares of the technology company’s stock worth $416,000 after acquiring an additional 446 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in GoDaddy in the 3rd quarter worth approximately $273,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in GoDaddy by 4.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,257 shares of the technology company’s stock worth $58,519,000 after acquiring an additional 17,573 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GDDY shares. Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Raymond James lifted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Trading Up 1.2 %

Shares of GDDY stock opened at $174.48 on Thursday. GoDaddy Inc. has a 1 year low of $115.19 and a 1 year high of $216.00. The firm has a fifty day moving average price of $194.00 and a 200-day moving average price of $182.46. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 27.05 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the transaction, the chief operating officer now owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the transaction, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at $16,758,197.66. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,849,169 in the last 90 days. Company insiders own 0.61% of the company’s stock.

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.