Andra AP fonden Sells 13,100 Shares of GoDaddy Inc. (NYSE:GDDY)

Andra AP fonden trimmed its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261,500 shares of the technology company's stock after selling 13,100 shares during the period. GoDaddy comprises about 0.8% of Andra AP fonden's holdings, making the stock its 15th largest position. Andra AP fonden owned approximately 0.19% of GoDaddy worth $51,612,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter valued at $27,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the fourth quarter valued at about $43,000. Huntington National Bank lifted its position in shares of GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after purchasing an additional 230 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in GoDaddy during the fourth quarter worth about $49,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the transaction, the chief operating officer now owns 184,632 shares of the company's stock, valued at $38,283,445.20. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at $91,350,548.34. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,849,169 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Citigroup upped their price objective on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Piper Sandler lifted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.20.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $0.07 during midday trading on Tuesday, reaching $172.35. 2,284,038 shares of the company traded hands, compared to its average volume of 1,339,318. GoDaddy Inc. has a 12 month low of $113.01 and a 12 month high of $216.00. The firm's fifty day moving average price is $194.96 and its two-hundred day moving average price is $182.45. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 26.72 and a beta of 1.25.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.