GoDaddy Inc. (NYSE:GDDY) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in GoDaddy Inc. by 17.0%, selling 6,500 shares and holding 31,800 shares valued at approximately $5.73 million as of its latest SEC filing.
• Several institutional investors increased their holdings in GoDaddy, with City Holding Co. showing a notable 30.0% increase in the first quarter, underscoring strong interest among large investors.
• GoDaddy's most recent quarterly earnings exceeded estimates, reporting $1.41 earnings per share and $1.22 billion in revenue, marking an 8.3% increase year-over-year.

Forsta AP Fonden trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,800 shares of the technology company's stock after selling 6,500 shares during the quarter. Forsta AP Fonden's holdings in GoDaddy were worth $5,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Capital Management LLC lifted its holdings in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after acquiring an additional 55 shares during the last quarter. BNP Paribas lifted its holdings in shares of GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after acquiring an additional 59 shares during the last quarter. City Holding Co. lifted its holdings in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after acquiring an additional 60 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after acquiring an additional 64 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after acquiring an additional 67 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GDDY shares. Benchmark reiterated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Citigroup reduced their target price on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Barclays reduced their target price on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Raymond James Financial reduced their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Stock Up 0.2%

Shares of NYSE GDDY traded up $0.31 during mid-day trading on Thursday, reaching $143.63. The company had a trading volume of 2,641,136 shares, compared to its average volume of 1,579,502. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 9.33. The firm has a 50 day simple moving average of $168.91 and a two-hundred day simple moving average of $178.46. The stock has a market cap of $20.47 billion, a P/E ratio of 25.65, a PEG ratio of 1.52 and a beta of 1.08. GoDaddy Inc. has a 52-week low of $132.51 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company's revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. Sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total value of $169,590.00. Following the transaction, the chief operating officer directly owned 253,949 shares of the company's stock, valued at $43,067,210.91. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $596,429.77. Following the sale, the chief financial officer owned 74,084 shares of the company's stock, valued at approximately $13,321,044.04. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,257 shares of company stock valued at $5,639,070. Corporate insiders own 0.70% of the company's stock.

GoDaddy Company Profile

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.