Skandinaviska Enskilda Banken AB publ Purchases 17,572 Shares of GoDaddy Inc. (NYSE:GDDY)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in GoDaddy Inc. by 37.0%, owning 65,013 shares valued at $11.7 million as of its latest SEC filing.
• GoDaddy recently reported quarterly earnings of $1.27 EPS, missing analysts' expectations while showcasing an 8.6% year-over-year revenue growth to $1.19 billion.
• Insider trading activity included COO Roger Chen and CFO Mark McCaffrey selling shares, with insiders holding only 0.61% of the company's stock post-transactions.

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 37.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,013 shares of the technology company's stock after buying an additional 17,572 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in GoDaddy were worth $11,711,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of GoDaddy in the 1st quarter valued at $27,000. Private Trust Co. NA increased its stake in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after acquiring an additional 194 shares in the last quarter. Finally, City Holding Co. grew its position in GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer owned 21,198 shares of the company's stock, valued at $3,770,488.26. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $1,246,442.92. Following the completion of the transaction, the chief executive officer directly owned 431,015 shares of the company's stock, valued at approximately $77,500,807.15. This trade represents a 1.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,757 shares of company stock worth $12,243,920 in the last 90 days. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Down 0.1%

GoDaddy stock traded down $0.10 on Wednesday, hitting $164.94. 234,267 shares of the stock traded hands, compared to its average volume of 1,466,052. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The firm has a market cap of $23.50 billion, a P/E ratio of 31.70 and a beta of 1.05. The business's fifty day simple moving average is $175.91 and its 200 day simple moving average is $182.24. GoDaddy Inc. has a 1 year low of $140.51 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. GoDaddy's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 EPS. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and set a $225.00 price target on shares of GoDaddy in a research note on Monday, June 23rd. Barclays decreased their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley decreased their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

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.