Forsta AP Fonden Grows Position in GoDaddy Inc. (NYSE:GDDY)

Forsta AP Fonden grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 87.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,000 shares of the technology company’s stock after buying an additional 39,200 shares during the period. Forsta AP Fonden owned 0.06% of GoDaddy worth $9,969,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Sciencast Management LP acquired a new stake in shares of GoDaddy during the first quarter worth $312,000. Texas Permanent School Fund Corp boosted its holdings in shares of GoDaddy by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 123,249 shares of the technology company’s stock worth $14,627,000 after purchasing an additional 1,612 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of GoDaddy during the first quarter worth $10,822,000. GSA Capital Partners LLP acquired a new stake in shares of GoDaddy during the first quarter worth $667,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of GoDaddy by 62.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock worth $593,000 after purchasing an additional 1,919 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GDDY. Evercore ISI boosted their price target on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. UBS Group boosted their price target on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Barclays boosted their price target on GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Benchmark reissued a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research report on Wednesday, May 1st. Finally, William Blair reissued an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.25.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The disclosure for this sale can be found here. Insiders have sold 50,071 shares of company stock worth $6,875,606 over the last quarter. 0.61% of the stock is owned by corporate insiders.

GoDaddy Trading Up 2.3 %

NYSE:GDDY opened at $145.33 on Monday. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy Inc. has a one year low of $69.18 and a one year high of $146.08. The business’s 50-day simple moving average is $138.69 and its 200 day simple moving average is $122.97. The stock has a market cap of $20.74 billion, a price-to-earnings ratio of 12.07 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. As a group, sell-side analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

GoDaddy Company 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.