Banque Cantonale Vaudoise Acquires New Stake in GoDaddy Inc. (NYSE:GDDY)

Banque Cantonale Vaudoise bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,183 shares of the technology company's stock, valued at approximately $3,275,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Advisors Capital Management LLC increased its position 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 during the last quarter. BNP Paribas boosted its holdings in shares of GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after acquiring an additional 59 shares during the period. City Holding Co. boosted its holdings in shares of GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after acquiring an additional 60 shares during the period. Equitable Trust Co. boosted its holdings in shares of GoDaddy by 1.0% during the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after acquiring an additional 64 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of GoDaddy by 0.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of research analyst reports. Piper Sandler boosted their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Barclays reduced their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. 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. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a research note on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Price Performance

GDDY traded down $5.16 during trading on Friday, hitting $156.42. 1,888,660 shares of the stock traded hands, compared to its average volume of 1,480,242. GoDaddy Inc. has a twelve month low of $144.72 and a twelve month high of $216.00. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 30.08 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day moving average price of $175.07 and a 200 day moving average price of $181.89.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $2.76 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the transaction, the chief accounting officer directly owned 21,198 shares in the company, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00. Following the transaction, the chief operating officer owned 254,949 shares of the company's stock, valued at $44,860,826.04. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,257 shares of company stock valued at $11,575,910 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.