Handelsbanken Fonder AB Grows Stock Position in GoDaddy Inc. $GDDY

Handelsbanken Fonder AB boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,500 shares of the technology company’s stock after purchasing an additional 8,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in GoDaddy were worth $5,815,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Hemington Wealth Management grew its position in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares in the last quarter. NewSquare Capital LLC raised its holdings in GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. Root Financial Partners LLC purchased a new position in GoDaddy in the third quarter worth approximately $31,000. Rossby Financial LCC lifted its stake in GoDaddy by 125.4% in the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Finally, Bayforest Capital Ltd grew its holdings in GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GDDY. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Jefferies Financial Group lowered their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research note on Monday, February 23rd. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Wells Fargo & Company decreased their price target on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Finally, Cantor Fitzgerald lowered their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.93.

Insider Activity

In related news, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68. Following the transaction, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

GoDaddy Trading Up 1.3%

NYSE GDDY opened at $88.26 on Tuesday. The firm’s fifty day moving average price is $104.08 and its 200 day moving average price is $124.27. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $193.55. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.