GoDaddy Inc. (NYSE:GDDY) Shares Acquired 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 increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 377.0% in the 1st quarter, according to its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GDDY. Cornerstone Planning Group LLC increased its position in shares of GoDaddy by 123.4% during the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in GoDaddy in the 1st quarter valued at $27,000. Private Trust Co. NA grew its holdings in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after buying an additional 136 shares in the last quarter. GW&K Investment Management LLC grew its holdings in GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after buying an additional 194 shares in the last quarter. Finally, City Holding Co. grew its holdings in GoDaddy by 30.0% in the 1st 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. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Down 11.2%

GDDY traded down $16.87 during mid-day trading on Friday, hitting $133.38. 5,238,112 shares of the stock were exchanged, compared to its average volume of 1,721,502. The firm's fifty day moving average is $171.43 and its two-hundred day moving average is $179.84. GoDaddy Inc. has a 1-year low of $132.73 and a 1-year high of $216.00. 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 company has a market cap of $19.01 billion, a PE ratio of 23.82 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 188.09% and a net margin of 17.01%. GoDaddy's revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on GDDY shares. Barclays dropped their target price on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday. Citigroup dropped their target price on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a report on Friday. Wells Fargo & Company decreased their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Friday. Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Finally, Morgan Stanley cut their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $202.43.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $160.47, for a total value of $80,235.00. Following the sale, the director owned 21,457 shares of the company's stock, valued at $3,443,204.79. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer directly owned 21,198 shares in the company, valued at $3,770,488.26. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,257 shares of company stock worth $5,827,280 over the last ninety days. Company insiders own 0.61% of the company's stock.

GoDaddy Company 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.