Nordea Investment Management AB Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Nordea Investment Management AB decreased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 49.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,782 shares of the technology company's stock after selling 11,679 shares during the quarter. Nordea Investment Management AB's holdings in GoDaddy were worth $1,417,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fiera Capital Corp boosted its position in GoDaddy by 1.3% during the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company's stock valued at $87,914,000 after purchasing an additional 10,312 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in GoDaddy in the fourth quarter valued at about $4,204,000. International Assets Investment Management LLC purchased a new stake in GoDaddy in the fourth quarter valued at about $1,972,000. Allspring Global Investments Holdings LLC raised its stake in GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company's stock valued at $1,227,000 after buying an additional 9,266 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in GoDaddy by 644.6% in the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company's stock valued at $15,886,000 after buying an additional 129,547 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

GDDY stock traded up $3.18 during trading on Friday, hitting $145.30. 1,307,454 shares of the company traded hands, compared to its average volume of 1,671,879. The stock's 50-day simple moving average is $138.69 and its 200 day simple moving average is $122.74. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $20.73 billion, a PE ratio of 12.07 and a beta of 1.14. GoDaddy Inc. has a 1 year low of $69.18 and a 1 year high of $146.08.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, equities analysts expect that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on GDDY shares. Barclays increased their price target on GoDaddy from $130.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, May 3rd. Raymond James started coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price target for the company. UBS Group increased their price target on GoDaddy from $118.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Morgan Stanley increased their price target on GoDaddy from $132.00 to $137.00 and gave the company an "equal weight" rating in a research note on Friday, May 3rd. Finally, Citigroup raised their price objective on GoDaddy from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $152.25.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the sale, the chief operating officer now directly owns 200,632 shares of the company's stock, valued at $24,597,483.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the firm's stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the sale, the chief accounting officer now directly owns 22,666 shares of the company's stock, valued at $3,129,947.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,071 shares of company stock worth $6,875,606. 0.61% of the stock is owned by corporate insiders.

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.