KLP Kapitalforvaltning AS Buys New Shares in GoDaddy Inc. (NYSE:GDDY)

KLP Kapitalforvaltning AS bought a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 195,000 shares of the technology company's stock, valued at approximately $38,487,000. KLP Kapitalforvaltning AS owned about 0.14% of GoDaddy as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GDDY. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $43,000. Rakuten Securities Inc. raised its holdings in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after buying an additional 165 shares during the period. Friedenthal Financial purchased a new stake in GoDaddy during the 4th quarter valued at $49,000. Finally, OFI Invest Asset Management bought a new stake in GoDaddy in the fourth quarter worth $52,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDDY has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Benchmark increased 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. Barclays upped their price objective on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, B. Riley lifted their target price on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $213.20.

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GoDaddy Stock Down 0.7 %

GDDY stock traded down $1.24 during trading on Wednesday, hitting $182.95. 1,344,965 shares of the company's stock traded hands, compared to its average volume of 1,346,116. The business has a fifty day simple moving average of $190.91 and a two-hundred day simple moving average of $183.77. 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 $25.86 billion, a P/E ratio of 28.36 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00.

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

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, the chief operating officer now owns 183,632 shares in the company, valued at $36,831,070.24. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,480 shares of company stock worth $3,816,029. Corporate insiders own 0.61% of the company's stock.

GoDaddy 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.