ASR Vermogensbeheer N.V. Buys Shares of 10,690 GoDaddy Inc. (NYSE:GDDY)

Key Points

• ASR Vermogensbeheer N.V. acquired 10,690 shares of GoDaddy Inc. (NYSE:GDDY), valued at approximately $1.93 million, indicating growing institutional interest in the company.
• GoDaddy's stock price saw recent target price cuts from analysts, with Morgan Stanley reducing its estimate from $228 to $206, while Wells Fargo lowered theirs from $198 to $157.
• Despite recent analyst downgrades, GoDaddy reported $1.41 EPS for the last quarter, exceeding estimates, and showed a year-over-year revenue growth of 8.3%.

ASR Vermogensbeheer N.V. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,690 shares of the technology company's stock, valued at approximately $1,926,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisors Capital Management LLC boosted its stake in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares in the last quarter. BNP Paribas boosted its position in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after buying an additional 59 shares in the last quarter. City Holding Co. boosted its position in GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares in the last quarter. Equitable Trust Co. lifted its position in GoDaddy by 1.0% during the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after buying an additional 64 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its position in GoDaddy by 0.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after buying an additional 67 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GDDY. Morgan Stanley cut their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler set a $182.00 price target on shares of GoDaddy and gave the company an "overweight" rating in a research report on Friday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, GoDaddy has an average rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Stock Up 3.4%

Shares of NYSE GDDY traded up $4.61 during midday trading on Tuesday, reaching $140.38. The company's stock had a trading volume of 3,411,666 shares, compared to its average volume of 1,565,791. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 9.33. The stock has a 50 day simple moving average of $170.51 and a 200-day simple moving average of $178.98. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 25.07 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total value of $169,590.00. Following the completion of the transaction, the chief operating officer owned 253,949 shares of the company's stock, valued at $43,067,210.91. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $160.47, for a total transaction of $80,235.00. Following the sale, the director directly owned 21,457 shares of the company's stock, valued at $3,443,204.79. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,257 shares of company stock valued at $5,827,280 over the last three months. 0.70% of the stock is owned by insiders.

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.