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

Swiss National Bank lowered its position in GoDaddy Inc. (NYSE:GDDY) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,100 shares of the technology company’s stock after selling 35,100 shares during the quarter. Swiss National Bank owned 0.31% of GoDaddy worth $46,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its position in GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after acquiring an additional 674,719 shares during the last quarter. New York State Teachers Retirement System lifted its stake in GoDaddy by 472.7% in the 3rd quarter. New York State Teachers Retirement System now owns 79,612 shares of the technology company’s stock valued at $5,930,000 after buying an additional 65,712 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in GoDaddy by 24.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 47,345 shares of the technology company’s stock valued at $3,526,000 after buying an additional 9,195 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of GoDaddy by 40.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,796 shares of the technology company’s stock worth $3,560,000 after acquiring an additional 13,665 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in shares of GoDaddy in the third quarter valued at $3,069,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Barclays raised their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Evercore ISI upped their target price on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.73.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,234 shares of company stock worth $14,025,346. 0.54% of the stock is currently owned by company insiders.

GoDaddy Stock Up 3.8 %

GDDY opened at $128.34 on Tuesday. The company has a market cap of $18.29 billion, a PE ratio of 10.66 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55. GoDaddy Inc. has a 1 year low of $68.98 and a 1 year high of $128.60. The firm has a 50 day moving average price of $120.27 and a 200 day moving average price of $107.24.

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

GoDaddy Profile

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.