KLP Kapitalforvaltning AS Lowers Holdings in GoDaddy Inc. $GDDY

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in GoDaddy Inc. by 5.2% during the second quarter, now owning 150,400 shares worth approximately $27 million.
• Several institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have increased their stakes in GoDaddy, with JPMorgan raising theirs by 41.1% in the first quarter.
• Recent analyst ratings have led to multiple price target reductions for GoDaddy, with the consensus target now at $199 after several firms adjusted their forecasts.

KLP Kapitalforvaltning AS decreased its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,400 shares of the technology company's stock after selling 8,200 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.11% of GoDaddy worth $27,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company's stock valued at $3,266,697,000 after buying an additional 462,807 shares during the period. WCM Investment Management LLC grew its holdings in GoDaddy by 2.0% in the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock valued at $620,931,000 after buying an additional 67,152 shares during the period. Invesco Ltd. grew its holdings in GoDaddy by 13.8% in the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company's stock valued at $597,317,000 after buying an additional 401,918 shares during the period. Wellington Management Group LLP lifted its stake in shares of GoDaddy by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 3,147,646 shares of the technology company's stock valued at $567,017,000 after purchasing an additional 371,188 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of GoDaddy by 41.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after purchasing an additional 710,842 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $145.71, for a total value of $145,710.00. Following the transaction, the chief operating officer directly owned 251,949 shares of the company's stock, valued at $36,711,488.79. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leah Sweet sold 650 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total value of $91,741.00. Following the completion of the transaction, the director directly owned 12,064 shares in the company, valued at approximately $1,702,712.96. The trade was a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,203 shares of company stock worth $4,200,828 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GDDY has been the topic of several research analyst reports. Raymond James Financial reduced their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Citigroup reduced their price objective on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, UBS Group reduced their price objective on GoDaddy from $215.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $199.00.

GoDaddy Stock Performance

GoDaddy stock opened at $135.35 on Wednesday. The stock's 50 day moving average price is $145.22 and its 200 day moving average price is $166.21. The firm has a market capitalization of $18.74 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. GoDaddy Inc. has a one year low of $131.29 and a one year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.GoDaddy's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.

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