Swedbank AB Cuts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Swedbank AB reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,351 shares of the technology company’s stock after selling 16,344 shares during the quarter. Swedbank AB owned approximately 0.10% of GoDaddy worth $26,912,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new position in GoDaddy in the 3rd quarter valued at $1,132,000. CWA Asset Management Group LLC increased its position in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares in the company, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,483 shares of company stock worth $4,256,183. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GDDY. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley increased their price target on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.07.

GoDaddy Trading Down 0.3 %

GoDaddy stock opened at $213.32 on Friday. The stock has a market cap of $29.95 billion, a P/E ratio of 16.49 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average price is $202.16 and its 200-day moving average price is $174.74. GoDaddy Inc. has a fifty-two week low of $106.42 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. Equities research analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal 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.