Swedbank AB Has $80.13 Million Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Swedbank AB significantly increased its stake in GoDaddy by 433.9% in the fourth quarter, holding 645,754 shares worth about $80.1 million at period end.
• GoDaddy reported better-than-expected quarterly results, with EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion slightly above forecasts; revenue also rose 6.1% year over year.
• Analysts remain mixed on the stock, with a consensus rating of “Moderate Buy” and an average price target of $120.57, while recent insider sales included CFO Mark Mccaffrey and Director Leah Sweet reducing their holdings.

Swedbank AB raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 433.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 645,754 shares of the technology company's stock after buying an additional 524,811 shares during the quarter. Swedbank AB owned 0.48% of GoDaddy worth $80,125,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GDDY. Ameriprise Financial Inc. increased its stake in GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock valued at $483,360,000 after buying an additional 1,128,646 shares during the period. Two Sigma Investments LP increased its stake in GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock valued at $223,183,000 after buying an additional 814,360 shares during the period. Victory Capital Management Inc. increased its stake in GoDaddy by 318.6% in the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company's stock valued at $100,632,000 after buying an additional 559,757 shares during the period. BNP Paribas Financial Markets increased its stake in GoDaddy by 85.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company's stock valued at $122,359,000 after buying an additional 411,349 shares during the period. Finally, UBS Group AG increased its stake in GoDaddy by 43.2% in the 3rd quarter. UBS Group AG now owns 1,259,460 shares of the technology company's stock valued at $172,332,000 after buying an additional 379,926 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY opened at $90.37 on Friday. The company's fifty day moving average is $84.78 and its 200-day moving average is $102.75. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $184.71. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.92. 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 (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GDDY. Royal Bank Of Canada dropped their price target on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group dropped their price target on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating on the stock in a research note on Monday, February 23rd. Wells Fargo & Company increased their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. UBS Group began coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price target on the stock. Finally, Piper Sandler began coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a "neutral" rating and a $93.00 price target on the stock. One 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. According to MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.57.

Insider Activity

In related news, CFO Mark Mccaffrey sold 17,406 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the completion of the sale, the chief financial officer directly owned 113,003 shares of the company's stock, valued at approximately $10,056,136.97. This represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leah Sweet sold 650 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director directly owned 11,414 shares of the company's stock, valued at approximately $991,420.04. This represents a 5.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,946 shares of company stock valued at $5,502,965 in the last quarter. 0.93% of the stock is currently owned by corporate insiders.

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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