Forsta AP Fonden Boosts Stake in GoDaddy Inc. (NYSE:GDDY)
Forsta AP Fonden increased its position in GoDaddy Inc. (NYSE:GDDY – Get Rating) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,900 shares of the technology company’s stock after buying an additional 33,200 shares during the period. Forsta AP Fonden owned 0.07% of GoDaddy worth $7,923,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GDDY. WINTON GROUP Ltd bought a new stake in GoDaddy during the third quarter worth approximately $390,000. The Manufacturers Life Insurance Company increased its stake in GoDaddy by 17.8% during the third quarter. The Manufacturers Life Insurance Company now owns 9,482 shares of the technology company’s stock worth $672,000 after acquiring an additional 1,434 shares during the last quarter. Guggenheim Capital LLC increased its stake in GoDaddy by 10.9% during the third quarter. Guggenheim Capital LLC now owns 6,039 shares of the technology company’s stock worth $428,000 after acquiring an additional 596 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in GoDaddy by 243.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 197,750 shares of the technology company’s stock worth $14,016,000 after acquiring an additional 140,140 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in GoDaddy during the third quarter worth approximately $44,000. 97.32% of the stock is currently owned by hedge funds and other institutional investors.
GoDaddy Trading Up 1.4 %
Shares of GDDY opened at $76.79 on Friday. GoDaddy Inc. has a 12 month low of $64.65 and a 12 month high of $87.92. The stock has a fifty day moving average price of $76.08 and a 200-day moving average price of $76.14. The firm has a market cap of $11.81 billion, a PE ratio of 34.90, a P/E/G ratio of 1.91 and a beta of 0.98.
GoDaddy (NYSE:GDDY – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The technology company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. GoDaddy had a negative return on equity of 93.48% and a net margin of 8.61%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. As a group, research analysts forecast that GoDaddy Inc. will post 2.7 EPS for the current year.
In other news, insider Michele Lau sold 344 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $84.26, for a total transaction of $28,985.44. Following the completion of the sale, the insider now owns 62,209 shares in the company, valued at approximately $5,241,730.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Nick Daddario sold 806 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $84.16, for a total value of $67,832.96. Following the transaction, the chief accounting officer now directly owns 14,649 shares of the company’s stock, valued at approximately $1,232,859.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michele Lau sold 344 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $84.26, for a total value of $28,985.44. Following the completion of the transaction, the insider now directly owns 62,209 shares in the company, valued at $5,241,730.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,935 shares of company stock worth $1,982,060. Insiders own 0.37% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on GDDY shares. Jefferies Financial Group cut GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a research note on Monday, January 9th. Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of GoDaddy in a research note on Monday, February 13th. Evercore ISI raised GoDaddy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $86.00 to $103.00 in a research note on Wednesday, January 18th. Raymond James upped their target price on GoDaddy from $88.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 15th. Finally, Robert W. Baird started coverage on GoDaddy in a research note on Tuesday, April 11th. They set an “outperform” rating and a $95.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.70.
GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.
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