Raiffeisen Bank International AG Increases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Key Points

• Raiffeisen Bank International AG increased its stake in GoDaddy Inc. by 16.0%, now owning 49,882 shares valued at approximately $8.9 million.
• GoDaddy's stock is currently trading at $156.42, with a significant 3.2% decline observed recently and a market cap of $22.29 billion.
• The company reported Q1 earnings of $1.27 per share, missing estimates, but saw an 8.6% year-over-year revenue increase totaling $1.19 billion.

Raiffeisen Bank International AG grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,882 shares of the technology company's stock after purchasing an additional 6,882 shares during the period. Raiffeisen Bank International AG's holdings in GoDaddy were worth $8,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GDDY. Advisors Capital Management LLC grew its stake in GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after acquiring an additional 55 shares during the period. BNP Paribas lifted its holdings in GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after purchasing an additional 59 shares in the last quarter. City Holding Co. lifted its holdings in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares in the last quarter. Equitable Trust Co. grew its position in shares of GoDaddy by 1.0% in the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock valued at $1,199,000 after purchasing an additional 64 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in shares of GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Trading Down 3.0%

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GDDY shares. Piper Sandler raised their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Barclays decreased their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $214.86.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was 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 directly owned 419,015 shares in the company, valued at $66,816,131.90. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the firm's 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 completion of the transaction, the director directly owned 21,457 shares of the company's stock, valued at approximately $3,443,204.79. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,257 shares of company stock valued at $5,827,280. Insiders own 0.61% of the company's stock.

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.