Pictet Asset Management Holding SA Purchases 7,081 Shares of GoDaddy Inc. (NYSE:GDDY)

Pictet Asset Management Holding SA grew its position in shares of GoDaddy Inc. (NYSE:GDDY) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,698 shares of the technology company’s stock after buying an additional 7,081 shares during the quarter. Pictet Asset Management Holding SA’s holdings in GoDaddy were worth $23,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Boussard & Gavaudan Investment Management LLP bought a new stake in GoDaddy during the 4th quarter worth approximately $1,001,000. New Age Alpha Advisors LLC bought a new position in GoDaddy in the 4th quarter valued at $2,010,000. Norges Bank bought a new stake in shares of GoDaddy during the fourth quarter worth $356,038,000. NEOS Investment Management LLC increased its stake in shares of GoDaddy by 21.6% in the fourth quarter. NEOS Investment Management LLC now owns 6,946 shares of the technology company’s stock valued at $1,371,000 after buying an additional 1,232 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of GoDaddy by 16.0% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 14,528 shares of the technology company’s stock valued at $2,867,000 after buying an additional 2,009 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GDDY shares. B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Citigroup increased their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Morgan Stanley boosted their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Barclays increased their price objective on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares in the company, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $180.20 on Tuesday. The stock has a 50-day moving average of $189.38 and a 200-day moving average of $184.61. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00. The stock has a market cap of $25.47 billion, a PE ratio of 27.94 and a beta of 1.25. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.