Skandinaviska Enskilda Banken AB publ Increases Position in GoDaddy Inc. (NYSE:GDDY)

Skandinaviska Enskilda Banken AB publ raised its position in GoDaddy Inc. (NYSE:GDDY) by 45.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,441 shares of the technology company’s stock after purchasing an additional 14,881 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in GoDaddy were worth $9,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. WCM Investment Management LLC raised its position in GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. Congress Asset Management Co. purchased a new stake in shares of GoDaddy during the fourth quarter worth $111,923,000. Amundi increased its position in shares of GoDaddy by 84.4% during the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after acquiring an additional 426,501 shares during the period. Mizuho Securities USA LLC increased its position in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after acquiring an additional 349,358 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Raymond James upped their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler boosted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Seven equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Transactions at GoDaddy

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

GoDaddy Stock Performance

NYSE GDDY opened at $176.06 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 1 year low of $115.19 and a 1 year high of $216.00. The company has a market capitalization of $24.89 billion, a PE ratio of 27.30 and a beta of 1.25. The company has a fifty day moving average of $192.98 and a two-hundred day moving average of $182.47.

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

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.