DnB Asset Management AS Buys 463 Shares of GoDaddy Inc. (NYSE:GDDY)

DnB Asset Management AS raised its stake in GoDaddy Inc. (NYSE:GDDY) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,584 shares of the technology company’s stock after acquiring an additional 463 shares during the period. DnB Asset Management AS’s holdings in GoDaddy were worth $5,050,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC raised its holdings in shares of GoDaddy by 18.9% during the 3rd quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock worth $2,771,000 after buying an additional 2,803 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in GoDaddy by 20.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 90,810 shares of the technology company’s stock worth $14,237,000 after buying an additional 15,452 shares during the period. FMR LLC boosted its holdings in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Glenmede Trust Co. NA grew its stake in GoDaddy by 41.3% in the third quarter. Glenmede Trust Co. NA now owns 3,086 shares of the technology company’s stock valued at $484,000 after acquiring an additional 902 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after acquiring an additional 203,909 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the sale, the chief executive officer now owns 505,649 shares in the company, valued at $91,350,548.34. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Piper Sandler raised their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, B. Riley increased their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Down 2.1 %

Shares of NYSE:GDDY opened at $178.89 on Monday. The company has a market capitalization of $25.29 billion, a PE ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00. 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 business has a fifty day moving average price of $189.80 and a two-hundred day moving average price of $184.41.

GoDaddy (NYSE:GDDY) last posted 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). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

About GoDaddy

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.