GoDaddy Inc. (NYSE:GDDY) Position Lifted by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,804 shares of the technology company’s stock after acquiring an additional 303 shares during the period. Nordea Investment Management AB’s holdings in GoDaddy were worth $2,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the third quarter worth $27,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy in the 3rd quarter worth about $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy during the 4th quarter valued at about $43,000. Finally, Huntington National Bank raised its stake in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.71.

GoDaddy Price Performance

NYSE GDDY opened at $192.82 on Friday. GoDaddy Inc. has a 12 month low of $103.10 and a 12 month high of $211.11. The firm has a market capitalization of $27.07 billion, a PE ratio of 14.90 and a beta of 1.15. The company’s 50 day simple moving average is $196.26 and its 200 day simple moving average is $169.18. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. As a group, equities research analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,003 shares of company stock valued at $4,626,523. 0.61% of the stock is owned by insiders.

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.