GoDaddy Inc. $GDDY Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its stake in GoDaddy Inc. (NYSE:GDDY) by 42.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,007 shares of the technology company’s stock after purchasing an additional 6,804 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in GoDaddy were worth $3,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in GoDaddy by 20.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock valued at $17,888,000 after purchasing an additional 17,200 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of GoDaddy by 14.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock valued at $15,602,000 after buying an additional 10,631 shares during the last quarter. GDS Wealth Management raised its stake in GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after acquiring an additional 8,388 shares during the period. Quantbot Technologies LP bought a new position in GoDaddy in the second quarter worth about $15,659,000. Finally, Neo Ivy Capital Management acquired a new position in GoDaddy in the second quarter valued at approximately $470,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the sale, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the sale, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,615 shares of company stock valued at $1,743,102 over the last ninety days. Insiders own 0.70% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $97.38 on Friday. GoDaddy Inc. has a twelve month low of $92.22 and a twelve month high of $214.32. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a 50-day moving average of $116.06 and a two-hundred day moving average of $131.74. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.88 and a beta of 0.94.

Analyst Ratings Changes

A number of analysts have recently weighed in on GDDY shares. Evercore dropped their price target on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Royal Bank Of Canada set a $70.00 price target on shares of GoDaddy in a report on Wednesday, January 7th. JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, UBS Group cut their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $166.21.

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.