Forsta AP Fonden, a Swedish institutional investor, recently disclosed in its latest Form 13F filing with the Securities and Exchange Commission that it has increased its position in GoDaddy Inc. (NYSE:GDDY) by 45.7% during the last quarter of 2020. Accordingly, the fund now owns 105,900 shares of GoDaddy’s stock after acquiring an additional 33,200 shares during the said period. The total worth of their holdings sums up to $7,923,000 at the end of the quarter – a significant amount, indeed.
GoDaddy Inc., meanwhile, is primarily known as a leading provider of domain name registration and web hosting services worldwide; however, it also offers website building and security tools to its clients. In fact, GoDaddy operates under two segments: Applications and Commerce (A & C) and Core Platform (Core). The A & C segment deals with sales related to products containing proprietary software such as commerce products as well as third-party email and productivity solutions.
Of course, the technological giant’s financial standings are essential for both current and potential investors alike – something that was evident when they last issued their quarterly earnings data on February 14th earlier this year. According to reports from analysts who follow GoDaddy closely, they had revenue reaching $1.04 billion – matching analyst estimates – during Q4/20 while posting an EPS of $0.62 per share for the quarter. These figures highlight GoDaddy’s remarkable ability to maintain stability even in difficult circumstances like those presented by global pandemics.
In conclusion, Forsta AP Fonden’s move to increase its stake in GoDaddy may have been motivated by several factors such as expected growth or anticipated long-term financial gains from holding stocks with promising markets. The analytics show that these moves have indeed brought positive results in terms of earnings per share expected this year – a testament to GoDaddy’s business strategy, financial prowess, and commitment to excellence in technology.
Key Players Increase Investments in GoDaddy Inc. While Insider Trading Occurs
Investments by hedge funds and institutional investors in GoDaddy Inc. have seen significant changes in recent times, with several key players increasing their stakes in the company. WINTON GROUP Ltd, for example, bought a new stake worth $390,000 in GoDaddy during Q3 2016. Similarly, Manufacturers Life Insurance Company increased its stake by 17.8% during the same period and now owns 9,482 shares worth $672,000. Guggenheim Capital LLC increased its percentage ownership by almost 11%, while Robeco Institutional Asset Management B.V. saw an increase of over 240%, owning 197,750 shares worth $14,016,000 at the end of the quarter. Even Sentry Investment Management LLC invested a new stake worth $44,000.
The total percentage of GoDaddy’s stock that is owned by hedge funds and other institutional investors currently stands at an impressive 97.32%. Shares in GoDaddy ready for Friday trading opened at $76.79 per share and had a market cap of $11.81 billion with a price-to-earnings ratio (PE ratio) of 34.90 and a P/E to growth (P/E/G) ratio of 1.91.
GoDaddy Inc.’s business model involves providing website building tools alongside domain name registration and web hosting services with two distinct operating segments; Applications & Commerce (A&C) and Core Platform (Core). Sales originate from third-party sources as well as products containing proprietary software.
However, insider trading has also been witnessed recently with Michele Lau selling off approximately $29K worth of shares while Nick Daddario sold more than eight hundred shares totaling nearly $68K in value recently.
As far as analyst ratings go on GDDY stock’s performance thus far Jefferies Financial Group has lowered its rating from buy to hold and set a new price objective on the stock at $80.00, while Benchmark reaffirmed its buy rating and set a target price of $100.00. Evercore ISI bumped the stock rating from “in-line” to “outperform” and upped their target price from $86.00 to $103.00. Raymond James upgraded GoDaddy from a hold rating to strong-buy and upped the share’s target price from $88.00 to $94.00 in addition Robert W. Baird began coverage on GDDY on the 11th of April with an outperform rating alongside a target price estimate of $95. As per data available Bloomberg.com, the stock currently holds a moderate buy rating assigned by three analysts with one strong-buy rating and seven buy ratings, alongside an average consensus target price of $93.70.