APG Asset Management US Inc. Acquires New Holdings in GoDaddy Inc. (NYSE:GDDY)

APG Asset Management US Inc. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,438 shares of the technology company's stock, valued at approximately $876,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Quantinno Capital Management LP lifted its stake in shares of GoDaddy by 19.6% during the third quarter. Quantinno Capital Management LP now owns 13,803 shares of the technology company's stock worth $2,164,000 after buying an additional 2,260 shares during the period. XTX Topco Ltd purchased a new position in shares of GoDaddy in the third quarter worth about $675,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of GoDaddy during the third quarter worth about $1,666,000. Nomura Asset Management Co. Ltd. boosted its position in GoDaddy by 31.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 82,586 shares of the technology company's stock valued at $12,948,000 after buying an additional 19,950 shares during the last quarter. Finally, Barclays PLC increased its holdings in GoDaddy by 28.7% in the 3rd quarter. Barclays PLC now owns 447,425 shares of the technology company's stock worth $70,147,000 after buying an additional 99,734 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GDDY. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. UBS Group increased their price target on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Citigroup boosted their price objective on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group dropped their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and an average price target of $212.20.

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Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock worth $3,546,970. Corporate insiders own 0.61% of the company's stock.

GoDaddy Price Performance

Shares of GDDY stock traded up $2.41 on Tuesday, reaching $174.06. 1,023,452 shares of the company were exchanged, compared to its average volume of 1,456,969. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The business has a 50-day moving average price of $180.10 and a 200 day moving average price of $185.65. The company has a market cap of $24.60 billion, a price-to-earnings ratio of 26.99 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.