Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 50,500 Shares of GoDaddy Inc. $GDDY

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 56.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,398 shares of the technology company’s stock after purchasing an additional 50,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.11% of GoDaddy worth $11,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of GoDaddy in the fourth quarter valued at $250,020,000. AQR Capital Management LLC raised its position in shares of GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after purchasing an additional 1,615,005 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after buying an additional 1,128,646 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after buying an additional 814,360 shares during the last quarter. Finally, Swedbank AB grew its stake in GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after buying an additional 524,811 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GDDY. Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Wells Fargo & Company boosted their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Piper Sandler assumed coverage on GoDaddy in a research report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. Finally, Benchmark lowered their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.43.

GoDaddy Trading Down 0.1%

GDDY stock opened at $88.42 on Friday. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50-day simple moving average is $84.81 and its 200 day simple moving average is $93.12. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $179.61. The company has a market capitalization of $11.71 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 7.13 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the sale, the chief executive officer owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by company insiders.

About GoDaddy

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.