DNB Asset Management AS Has $3.08 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

DNB Asset Management AS boosted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,037 shares of the technology company’s stock after acquiring an additional 1,533 shares during the period. DNB Asset Management AS’s holdings in GoDaddy were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at about $28,000. GAMMA Investing LLC grew its position in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $33,000. New Covenant Trust Company N.A. acquired a new position in shares of GoDaddy in the first quarter valued at approximately $45,000. Finally, Rise Advisors LLC acquired a new position in shares of GoDaddy in the first quarter valued at approximately $48,000. 90.28% of the stock is currently owned by institutional investors.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 4,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the transaction, the chief financial officer now owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the transaction, the chief financial officer now owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the transaction, the chief accounting officer now directly owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,071 shares of company stock valued at $7,410,566. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Up 3.5 %

Shares of GDDY stock traded up $5.13 on Tuesday, reaching $152.01. 2,134,614 shares of the company were exchanged, compared to its average volume of 1,629,820. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 12.63 and a beta of 1.14. The company has a 50-day moving average of $141.77 and a 200-day moving average of $127.32. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. GoDaddy Inc. has a one year low of $69.18 and a one year high of $154.80.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. Analysts anticipate that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Analyst Ratings Changes

GDDY has been the subject of several recent analyst reports. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group increased their price objective on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Morgan Stanley increased their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, William Blair reiterated an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.25.

About GoDaddy

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.