Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,673 Shares of GoDaddy Inc. (NYSE:GDDY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 28,724 shares of the technology company’s stock after purchasing an additional 1,673 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GoDaddy were worth $5,669,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GDDY. Quent Capital LLC boosted 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 purchasing an additional 53 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after buying an additional 64 shares during the period. New York Life Investment Management LLC lifted its holdings in GoDaddy by 0.4% in 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 buying an additional 71 shares during the period. Prime Capital Investment Advisors LLC boosted its position in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock worth $1,294,000 after acquiring an additional 74 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the sale, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,480 shares of company stock worth $3,849,169. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 2.1 %

GoDaddy stock opened at $176.06 on Friday. GoDaddy Inc. has a one year low of $115.19 and a one year high of $216.00. The business’s fifty day moving average is $192.98 and its 200 day moving average is $182.47. 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 market capitalization of $24.89 billion, a PE ratio of 27.30 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results 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 company had revenue of $1.19 billion for 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, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of research analyst reports. Piper Sandler raised their target price on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

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.