E. Ohman J or Asset Management AB Grows Stock Position in GoDaddy Inc. (NYSE:GDDY)

E. Ohman J or Asset Management AB lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 17.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,000 shares of the technology company’s stock after buying an additional 900 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in GoDaddy were worth $941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter valued at $30,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the 2nd quarter valued at about $28,000. ORG Partners LLC acquired a new position in GoDaddy in the 2nd quarter worth about $32,000. International Assets Investment Management LLC purchased a new position in GoDaddy during the second quarter worth approximately $36,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in GoDaddy in the third quarter valued at approximately $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Down 0.6 %

Shares of NYSE:GDDY opened at $160.53 on Friday. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The business has a fifty day moving average of $159.26 and a two-hundred day moving average of $145.92. The stock has a market cap of $22.63 billion, a P/E ratio of 12.83 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, research analysts expect that GoDaddy Inc. will post 5.07 earnings per share for the current year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,744 shares of company stock valued at $5,114,931. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GDDY has been the subject of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 target price (up from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research note on Tuesday, October 15th. Barclays raised their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.54.

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.