GoDaddy Inc. $GDDY Position Reduced by Andra AP fonden

Andra AP fonden cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 42.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 220,300 shares of the technology company’s stock after selling 159,910 shares during the period. Andra AP fonden’s holdings in GoDaddy were worth $27,335,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rachor Investment Advisory Services LLC purchased a new stake in GoDaddy during the fourth quarter valued at about $25,000. Activest Wealth Management increased its holdings in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of GoDaddy in the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after purchasing an additional 150 shares during the period. Finally, Harbour Investments Inc. increased its holdings in shares of GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the transaction, the chief financial officer owned 109,228 shares in the company, valued at $9,815,228.08. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the transaction, the chief executive officer owned 521,747 shares in the company, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. 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 three months, insiders have sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by company insiders.

GoDaddy Trading Down 6.4%

NYSE:GDDY opened at $75.18 on Friday. The stock’s 50 day moving average price is $85.54 and its 200 day moving average price is $98.13. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $181.49. The company has a market capitalization of $9.95 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.73 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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 return on equity of 366.90% and a net margin of 17.32%.The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that GoDaddy Inc. will post 7.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GDDY shares. Royal Bank Of Canada dropped their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Benchmark dropped their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Citigroup dropped their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Barclays dropped their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Piper Sandler started coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.57.

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.