Banco Santander S.A. Invests $1.14 Million in GoDaddy Inc. (NYSE:GDDY)

Key Points

• Banco Santander S.A. has acquired a new stake in GoDaddy Inc., purchasing 6,316 shares valued at approximately $1,138,000 in the 1st quarter of this year.
• Several large investors, including PNC Financial Services Group and Alberta Investment Management Corp, have significantly increased their stakes in GoDaddy during the same period.
• GoDaddy's recent earnings report showed EPS of $1.27, missing estimates, with revenue of $1.19 billion, representing an 8.6% increase compared to the previous year.

Banco Santander S.A. bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,316 shares of the technology company's stock, valued at approximately $1,138,000.

A number of other hedge funds also recently bought and sold shares of GDDY. Raymond James Financial Inc. purchased a new stake in shares of GoDaddy in the 4th quarter worth approximately $44,668,000. CIBC Private Wealth Group LLC lifted its position in GoDaddy by 13.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,468 shares of the technology company's stock valued at $289,000 after acquiring an additional 175 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in GoDaddy by 13.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 45,242 shares of the technology company's stock valued at $8,929,000 after acquiring an additional 5,457 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in GoDaddy in the 4th quarter valued at approximately $4,138,000. Finally, Riverwater Partners LLC bought a new position in GoDaddy in the 4th quarter valued at approximately $225,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Citigroup cut their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $225.00 price objective on shares of GoDaddy in a research report on Monday, June 23rd. Morgan Stanley decreased their price objective 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. Finally, Barclays decreased their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $214.86.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $188.21, for a total transaction of $188,210.00. Following the completion of the sale, the chief operating officer owned 255,949 shares of the company's stock, valued at $48,172,161.29. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Mccaffrey sold 3,317 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $596,429.77. Following the completion of the transaction, the chief financial officer directly owned 74,084 shares of the company's stock, valued at approximately $13,321,044.04. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,257 shares of company stock valued at $5,827,280 over the last 90 days. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 3.0%

NYSE:GDDY traded down $4.81 during mid-day trading on Tuesday, hitting $153.34. 3,107,856 shares of the stock traded hands, compared to its average volume of 1,477,463. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 29.49 and a beta of 1.08. GoDaddy Inc. has a 52 week low of $147.49 and a 52 week high of $216.00. The firm's 50 day moving average is $173.50 and its two-hundred day moving average is $180.86. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

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.