Tredje AP fonden Cuts Stake in GoDaddy Inc. (NYSE:GDDY)

Tredje AP fonden lowered its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,073 shares of the technology company's stock after selling 11,072 shares during the period. Tredje AP fonden's holdings in GoDaddy were worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. Geode Capital Management LLC lifted its stake in GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after purchasing an additional 84,550 shares during the last quarter. WCM Investment Management LLC lifted its stake in GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. FMR LLC lifted its stake in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock worth $214,584,000 after purchasing an additional 203,909 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

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Wall Street Analyst Weigh In

GDDY has been the topic of several research reports. Barclays lifted their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Robert W. Baird lifted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Benchmark raised their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley raised their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Finally, Piper Sandler raised their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.20.

GoDaddy Stock Performance

NYSE GDDY traded down $1.94 on Tuesday, reaching $178.18. 1,254,162 shares of the company's stock traded hands, compared to its average volume of 1,336,127. The firm has a market cap of $25.19 billion, a price-to-earnings ratio of 27.63 and a beta of 1.25. The stock has a 50 day moving average price of $192.60 and a 200-day moving average price of $182.83. GoDaddy Inc. has a fifty-two week low of $117.33 and a fifty-two week 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.

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

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the transaction, the chief executive officer now owns 505,649 shares of the company's stock, valued at approximately $91,350,548.34. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now directly owns 22,621 shares of the company's stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,480 shares of company stock worth $3,641,819 over the last three months. Company insiders own 0.61% of the company's stock.

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.