Handelsbanken Fonder AB Has $3.12 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Handelsbanken Fonder AB reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,400 shares of the technology company’s stock after selling 200 shares during the period. Handelsbanken Fonder AB’s holdings in GoDaddy were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GDDY. Federated Hermes Inc. lifted its holdings in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares during the last quarter. Bank of New York Mellon Corp increased its stake in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after acquiring an additional 674,719 shares during the period. Ameriprise Financial Inc. increased its stake in GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after acquiring an additional 561,614 shares during the period. Finally, Principal Financial Group Inc. increased its stake in GoDaddy by 3,382.2% during the 3rd quarter. Principal Financial Group Inc. now owns 546,359 shares of the technology company’s stock worth $40,693,000 after acquiring an additional 530,669 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GDDY shares. B. Riley raised their price objective on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Benchmark restated a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a research note on Thursday, March 7th. Barclays raised their price objective on GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $124.00 price objective on shares of GoDaddy in a research note on Thursday, March 7th. Finally, Robert W. Baird raised their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $135.18.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares in the company, valued at approximately $14,055,912.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold 121,234 shares of company stock worth $13,534,946 in the last 90 days. Insiders own 0.54% of the company’s stock.

GoDaddy Trading Up 0.7 %

Shares of GDDY stock opened at $124.95 on Friday. The firm has a market capitalization of $17.80 billion, a P/E ratio of 13.04 and a beta of 1.12. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock’s fifty day simple moving average is $118.76 and its 200 day simple moving average is $104.78.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. As a group, sell-side analysts predict that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

GoDaddy Profile

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.