Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in GoDaddy Inc. (NYSE:GDDY) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,724 shares of the technology company’s stock after buying an additional 1,673 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GoDaddy were worth $5,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GDDY. Quent Capital LLC lifted its stake in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after buying an additional 53 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after acquiring an additional 64 shares during the period. New York Life Investment Management LLC lifted its position in shares of GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after acquiring an additional 71 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares during the period. Finally, Metis Global Partners LLC grew its position in shares of GoDaddy by 1.1% in the fourth quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after purchasing an additional 74 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Up 2.1 %

Shares of GDDY opened at $176.06 on Friday. GoDaddy Inc. has a 1 year low of $115.19 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a 50 day simple moving average of $192.98 and a two-hundred day simple moving average of $182.47. The firm has a market cap of $24.89 billion, a P/E ratio of 27.30 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Raymond James increased their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Barclays upped their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Morgan Stanley raised their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Piper Sandler boosted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now owns 23,121 shares of the company’s stock, valued at $4,601,310.21. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now owns 184,632 shares in the company, valued at $38,283,445.20. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,849,169 over the last three months. Company insiders own 0.61% of the company’s stock.

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.