100,365 Shares in GoDaddy Inc. $GDDY Acquired by SEB Asset Management AB

SEB Asset Management AB acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 100,365 shares of the technology company’s stock, valued at approximately $8,297,000. SEB Asset Management AB owned about 0.08% of GoDaddy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy during the 4th quarter worth $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the 4th quarter valued at about $25,000. Activest Wealth Management grew its holdings in shares of GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. International Assets Investment Management LLC increased its position in GoDaddy by 93.8% during the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after purchasing an additional 180 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Down 2.6%

NYSE GDDY opened at $92.35 on Wednesday. The firm’s 50-day moving average is $85.78 and its two-hundred day moving average is $89.91. GoDaddy Inc. has a 12 month low of $71.59 and a 12 month high of $171.42. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $12.23 billion, a P/E ratio of 14.61, a PEG ratio of 0.86 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $1.51 earnings per share. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GoDaddy Inc. will post 7.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Benchmark reduced their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. decreased their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Finally, Wells Fargo & Company increased their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. 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 company. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.43.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director directly owned 5,708 shares in the company, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,958 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 16,751 shares of company stock worth $1,480,228. Company insiders own 0.93% of the company’s stock.

About GoDaddy

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.