GoDaddy Inc. $GDDY Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 23.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,500 shares of the technology company’s stock after purchasing an additional 8,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in GoDaddy were worth $5,815,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Hemington Wealth Management grew its position in GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the last quarter. NewSquare Capital LLC grew its holdings in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Root Financial Partners LLC acquired a new position in GoDaddy in the 3rd quarter valued at about $31,000. Rossby Financial LCC raised its stake in GoDaddy by 125.4% during the 3rd quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its position in GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald dropped their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Barclays lowered their price objective on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group cut their price objective on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Benchmark reduced their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $131.93.

GoDaddy Trading Up 1.3%

NYSE:GDDY opened at $88.26 on Tuesday. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $193.55. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a fifty day moving average price of $104.08 and a two-hundred day moving average price of $124.27. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.80 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the transaction, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.