GoDaddy Inc. (NYSE:GDDY) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,493 shares of the technology company’s stock after selling 3,473 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in GoDaddy were worth $1,483,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Norges Bank acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $181,687,000. Federated Hermes Inc. raised its stake in shares of 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 buying an additional 928,273 shares during the period. Los Angeles Capital Management LLC increased its holdings in GoDaddy by 7,379.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after acquiring an additional 714,075 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after acquiring an additional 695,897 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of 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 purchasing an additional 561,614 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY opened at $143.46 on Wednesday. The firm has a 50-day simple moving average of $135.52 and a 200-day simple moving average of $120.88. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 11.87 and a beta of 1.14. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $143.90.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.82 earnings per share for the current year.

Insider Activity

In related news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at $3,129,947.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 7,600 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $138.92, for a total value of $1,055,792.00. Following the completion of the transaction, the chief executive officer now owns 369,898 shares of the company’s stock, valued at $51,386,230.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nick Daddario sold 523 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The disclosure for this sale can be found here. Insiders sold a total of 41,571 shares of company stock valued at $5,687,391 over the last quarter. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GDDY shares. Barclays increased their price objective on GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. William Blair reiterated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Morgan Stanley upped their price objective on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Citigroup upped their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Piper Sandler increased their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.92.

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.