GoDaddy Inc. $GDDY Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden cut its GoDaddy stake by 42.1% in the fourth quarter, selling 159,910 shares and leaving it with 220,300 shares worth about $27.3 million.
• Insider selling continued, with CEO Amanpal Singh Bhutani and CFO Mark McCaffrey both reducing their holdings in recent transactions; insiders sold 16,751 shares total over the last 90 days.
• GoDaddy reported better-than-expected Q1 results on April 30, with EPS of $1.60 versus $1.53 expected and revenue of $1.27 billion, up 6.1% year over year. Analysts currently have a Moderate Buy consensus with an average price target of $120.57.

Andra AP fonden reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,300 shares of the technology company's stock after selling 159,910 shares during the period. Andra AP fonden owned about 0.16% of GoDaddy worth $27,335,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in GoDaddy by 0.8% in the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company's stock valued at $2,587,754,000 after acquiring an additional 150,045 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock valued at $483,360,000 after acquiring an additional 1,128,646 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in GoDaddy by 11.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company's stock valued at $399,089,000 after acquiring an additional 319,515 shares in the last quarter. Norges Bank acquired a new stake in GoDaddy in the fourth quarter valued at $250,020,000. Finally, Two Sigma Investments LP raised its holdings in GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock valued at $223,183,000 after acquiring an additional 814,360 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the sale, the chief executive officer directly owned 521,747 shares of the company's stock, valued at approximately $46,884,185.42. This represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the sale, the chief financial officer directly owned 105,728 shares of the company's stock, valued at $8,766,965.76. The trade was a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,751 shares of company stock valued at $1,480,228 over the last 90 days. Insiders own 0.93% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY opened at $75.18 on Friday. The firm has a 50-day moving average price of $85.54 and a 200 day moving average price of $98.13. The firm has a market capitalization of $9.95 billion, a PE ratio of 11.90, a P/E/G ratio of 0.73 and a beta of 0.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $181.49.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. GoDaddy's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GoDaddy Inc. will post 7.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent analyst reports. Cantor Fitzgerald cut their price target on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Evercore set a $95.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Raymond James Financial reiterated a "strong-buy" rating and set a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Citigroup lowered their target price on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Finally, Barclays lowered their target price on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $120.57.

GoDaddy Company 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.

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