KLP Kapitalforvaltning AS Lowers Stock Holdings in GoDaddy Inc. $GDDY

KLP Kapitalforvaltning AS lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 66.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 50,500 shares of the technology company’s stock after selling 99,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in GoDaddy were worth $6,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GDDY. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of GoDaddy by 20.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock worth $17,888,000 after purchasing an additional 17,200 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in GoDaddy by 14.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after purchasing an additional 10,631 shares during the period. GDS Wealth Management boosted its stake in GoDaddy by 16.3% in the 2nd quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after purchasing an additional 8,388 shares during the period. Quantbot Technologies LP purchased a new stake in GoDaddy during the 2nd quarter valued at approximately $15,659,000. Finally, Neo Ivy Capital Management bought a new stake in shares of GoDaddy during the second quarter valued at approximately $470,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Down 1.7%

Shares of NYSE GDDY opened at $113.58 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a 12-month low of $113.22 and a 12-month high of $216.00. The firm’s 50-day moving average price is $126.57 and its 200-day moving average price is $141.89. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.05 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $1.32 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 3,317 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the sale, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction on Wednesday, December 10th. The stock was 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 of the company’s stock, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,115 shares of company stock worth $1,809,657. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GDDY shares. Evercore ISI dropped their target price on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. Jefferies Financial Group dropped their price objective on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday. Royal Bank Of Canada set a $70.00 target price on GoDaddy in a report on Wednesday. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $167.21.

GoDaddy Profile

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.