GoDaddy Inc. (NYSE:GDDY) Shares Purchased by ING Groep NV

Key Points

• ING Groep NV significantly increased its stake in GoDaddy by 377% during the 1st quarter, owning approximately 85,531 shares valued at $15.4 million.
• Institutional investors and hedge funds now own 90.28% of GoDaddy's stock, indicating strong interest from large financial entities.
• GoDaddy's stock has seen a price range between $144.72 and $216.00 over the past year, with current trading around $158.08.

ING Groep NV grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 377.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,531 shares of the technology company's stock after purchasing an additional 67,600 shares during the quarter. ING Groep NV owned approximately 0.06% of GoDaddy worth $15,408,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Allianz SE raised its stake in GoDaddy by 133.8% in the 1st quarter. Allianz SE now owns 5,470 shares of the technology company's stock valued at $985,000 after acquiring an additional 3,130 shares during the period. Raiffeisen Bank International AG lifted its position in shares of GoDaddy by 16.0% during the first quarter. Raiffeisen Bank International AG now owns 49,882 shares of the technology company's stock worth $8,923,000 after acquiring an additional 6,882 shares in the last quarter. Banco Santander S.A. purchased a new position in shares of GoDaddy in the first quarter valued at $1,138,000. PNC Financial Services Group Inc. grew its stake in GoDaddy by 27.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,281 shares of the technology company's stock valued at $1,672,000 after acquiring an additional 1,986 shares in the last quarter. Finally, Commerce Bank increased its holdings in GoDaddy by 1.7% during the 1st quarter. Commerce Bank now owns 41,593 shares of the technology company's stock worth $7,493,000 after acquiring an additional 682 shares during the period. Institutional investors own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Friday, August 1st. The stock was sold at an average price of $160.47, for a total transaction of $80,235.00. Following the completion of the transaction, the director owned 21,457 shares of the company's stock, valued at $3,443,204.79. The trade was a 2.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $956,760.00. Following the completion of the transaction, the chief executive officer owned 419,015 shares in the company, valued at approximately $66,816,131.90. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,257 shares of company stock valued at $5,827,280. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Down 2.9%

GDDY traded down $4.50 on Thursday, hitting $150.32. 4,041,704 shares of the company were exchanged, compared to its average volume of 1,602,545. GoDaddy Inc. has a twelve month low of $146.81 and a twelve month high of $216.00. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 28.91 and a beta of 1.08. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The firm has a 50-day moving average price of $172.41 and a two-hundred day moving average price of $180.34.

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 the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a research note on Monday, June 23rd. Finally, Barclays decreased their price target 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

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.