Swiss National Bank Lowers Position in GoDaddy Inc. (NYSE:GDDY)

Swiss National Bank trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 436,100 shares of the technology company’s stock after selling 35,100 shares during the period. Swiss National Bank’s holdings in GoDaddy were worth $46,296,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GDDY. Ameriprise Financial Inc. raised its stake in GoDaddy by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after buying an additional 561,614 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after purchasing an additional 695,897 shares during the last quarter. Bank of New York Mellon Corp increased its stake in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock valued at $106,890,000 after purchasing an additional 674,719 shares in the last quarter. Northern Trust Corp raised its holdings in GoDaddy by 36.8% in the third quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after buying an additional 375,568 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after buying an additional 928,273 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 3.8 %

Shares of GDDY stock opened at $128.34 on Tuesday. The company has a 50 day simple moving average of $120.27 and a two-hundred day simple moving average of $107.24. The stock has a market cap of $18.29 billion, a P/E ratio of 10.66 and a beta of 1.09. GoDaddy Inc. has a 12 month low of $68.98 and a 12 month high of $128.60. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. On average, research analysts expect that GoDaddy Inc. will post 4.93 earnings per share for the current year.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $6,589,068.32. Following the sale, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock valued at $14,025,346 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GDDY shares. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of GoDaddy in a report on Wednesday, May 1st. Raymond James began coverage on GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective on the stock. Robert W. Baird upped their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Finally, StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.73.

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.