SEB Asset Management AB Buys Shares of 100,365 GoDaddy Inc. $GDDY

SEB Asset Management AB purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,365 shares of the technology company’s stock, valued at approximately $8,297,000.

Several other hedge funds have also made changes to their positions in GDDY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy in the fourth quarter valued at approximately $25,000. Rachor Investment Advisory Services LLC purchased a new stake in GoDaddy during the 4th quarter worth approximately $25,000. Activest Wealth Management lifted its holdings in GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after buying an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Down 2.6%

NYSE GDDY opened at $92.35 on Wednesday. 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 Inc. has a 52 week low of $71.59 and a 52 week high of $171.42. The stock has a market capitalization of $12.23 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The firm has a 50 day moving average of $85.78 and a two-hundred day moving average of $89.91.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm posted $1.51 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the sale, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. The trade was a 5.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,958 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $355,665.88. Following the transaction, the chief financial officer directly owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. This represents a 3.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GDDY. Benchmark dropped their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. UBS Group assumed coverage on GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Wells Fargo & Company boosted their target price on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $118.43.

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.