GoDaddy Inc. $GDDY Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,898 shares of the technology company’s stock after selling 11,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in GoDaddy were worth $11,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of GoDaddy by 0.8% in the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock valued at $2,587,754,000 after purchasing an additional 150,045 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of GoDaddy by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company’s stock valued at $396,378,000 after purchasing an additional 53,811 shares during the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $250,020,000. Finally, Two Sigma Investments LP increased its holdings in shares of GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE:GDDY opened at $84.59 on Friday. The stock’s fifty day moving average is $85.70 and its two-hundred day moving average is $99.60. The company has a market capitalization of $11.20 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.76 and a beta of 0.90. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $183.34. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.17 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of analyst reports. Evercore set a $95.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Royal Bank Of Canada reduced their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. UBS Group initiated coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price on the stock. Benchmark reduced their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Piper Sandler initiated coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 542 shares of the business’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 value of $48,704.12. Following the sale, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the business’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 $752,397.78. Following the completion of the sale, the chief executive officer directly owned 521,747 shares in the company, valued at $46,884,185.42. This trade represents a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 14,561 shares of company stock valued at $1,308,104 over the last 90 days. Insiders own 0.93% of the company’s stock.

GoDaddy 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.