GoDaddy Inc. $GDDY Stock Holdings Lifted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS raised its stake in GoDaddy by 125.9% during Q4 to 114,100 shares (about 0.08% of the company) worth roughly $14.16 million, and institutional investors now own 90.28% of the stock.
• GoDaddy beat estimates in its latest quarter with EPS $1.80 vs. $1.58 expected and revenue of $1.27 billion (up 6.8% YoY), reporting a net margin of 17.67% and a notably high return on equity of 369%.
• Shares traded around $84.92 (down 3.9%) with a market cap of $11.32 billion, while analysts hold a consensus "Moderate Buy" rating with an average price target of $125.57; insiders have recently sold about 61,918 shares valued at $5.5 million (insiders own 0.70%).

KLP Kapitalforvaltning AS raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 125.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,100 shares of the technology company's stock after buying an additional 63,600 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.08% of GoDaddy worth $14,158,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hemington Wealth Management increased its holdings in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company's stock valued at $25,000 after buying an additional 85 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy in the fourth quarter valued at $25,000. Root Financial Partners LLC bought a new position in shares of GoDaddy in the third quarter valued at $31,000. Brown Brothers Harriman & Co. grew its position in GoDaddy by 145.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company's stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Finally, Rossby Financial LCC grew its position in GoDaddy by 125.4% during the 3rd quarter. Rossby Financial LCC now owns 284 shares of the technology company's stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Trading Down 3.9%

GoDaddy stock opened at $84.92 on Friday. The company's fifty day simple moving average is $85.23 and its 200-day simple moving average is $108.72. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $193.55. The stock has a market cap of $11.32 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.78 and a beta of 0.98.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the previous year, the company posted $1.36 EPS. GoDaddy's revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that GoDaddy Inc. will post 7.3 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, Director Leah Sweet sold 650 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director directly owned 11,414 shares in the company, valued at $991,420.04. The trade was a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Phontip Palitwanon sold 1,310 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares in the company, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,918 shares of company stock valued at $5,500,469. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

GDDY has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of GoDaddy from $159.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 15th. Royal Bank Of Canada lowered their price objective on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Raymond James Financial reiterated a "strong-buy" rating and set a $100.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Evercore set a $95.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Finally, Benchmark lowered their price objective on shares of GoDaddy from $240.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $125.57.

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.

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