Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stock Position in GoDaddy Inc. $GDDY

Key Points

• Fjarde AP Fonden reduced its GoDaddy stake by 11.7% in the fourth quarter, selling 11,900 shares and leaving it with 89,898 shares valued at about $11.2 million.
• GoDaddy reported better-than-expected quarterly results, posting EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion, up 6.1% year over year.
• Analysts remain mixed but generally positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $120.57, while shares were trading around $84.59.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,898 shares of the technology company's stock after selling 11,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.07% of GoDaddy worth $11,155,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GDDY. Norges Bank purchased a new stake in GoDaddy during the fourth quarter worth $250,020,000. Ameriprise Financial Inc. boosted its holdings in GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock worth $483,360,000 after buying an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP boosted its holdings in GoDaddy by 99.7% during the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock worth $223,183,000 after buying an additional 814,360 shares in the last quarter. Victory Capital Management Inc. boosted its position in GoDaddy by 318.6% during the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company's stock worth $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Finally, Swedbank AB boosted its position in GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company's stock worth $80,125,000 after purchasing an additional 524,811 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GDDY. Evercore set a $95.00 price target on GoDaddy in a research report on Wednesday, February 25th. Royal Bank Of Canada lowered their price target on GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Benchmark lowered their price target on GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Jefferies Financial Group lowered their price target on GoDaddy from $140.00 to $100.00 and set a "hold" rating on the stock in a research report on Monday, February 23rd. Finally, UBS Group started coverage on GoDaddy in a research report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $120.57.

GoDaddy Trading Down 0.3%

Shares of GoDaddy stock opened at $84.59 on Friday. The firm has a market capitalization of $11.20 billion, a PE ratio of 13.38, a P/E/G ratio of 0.76 and a beta of 0.90. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $183.34. The firm's 50-day moving average price is $85.70 and its 200 day moving average price is $99.60. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The business's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the transaction, the chief executive officer owned 521,747 shares of the company's stock, valued at $46,884,185.42. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the completion of the sale, the chief accounting officer owned 20,349 shares of the company's stock, valued at $1,834,462.35. This trade represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,561 shares of company stock worth $1,308,104 over the last three months. 0.93% of the stock is owned by insiders.

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.

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