Swedbank AB Sells 16,344 Shares of GoDaddy Inc. (NYSE:GDDY)

Swedbank AB lessened its position in GoDaddy Inc. (NYSE:GDDY) by 10.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 136,351 shares of the technology company’s stock after selling 16,344 shares during the period. Swedbank AB’s holdings in GoDaddy were worth $26,912,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter worth $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the 3rd quarter worth about $30,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy during the fourth quarter valued at about $43,000. Finally, Huntington National Bank raised its stake in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $213.32 on Friday. The company’s 50 day moving average is $202.16 and its 200 day moving average is $174.74. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 16.49 and a beta of 1.15. GoDaddy Inc. has a 12-month low of $106.42 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last announced its 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 company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. On average, equities research analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now owns 24,121 shares in the company, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,483 shares of company stock valued at $4,256,183 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. B. Riley upped their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Citigroup raised their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird lifted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.07.

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.