GoDaddy Inc. (NYSE:GDDY) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 13.2%, selling 2,473 shares, and now owns 16,259 shares valued at approximately $2.93 million.
• Despite recent sell-offs, a number of large investors, including Price T Rowe Associates and Canada Pension Plan Investment Board, have increased their positions in GoDaddy during the last quarter.
• GoDaddy's stock is down 3.2% currently, with a recent earnings report showing $1.27 EPS, missing estimates, while the company's revenue was up 8.6% year-over-year.

J. Safra Sarasin Holding AG decreased its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,259 shares of the technology company's stock after selling 2,473 shares during the period. J. Safra Sarasin Holding AG's holdings in GoDaddy were worth $2,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Santander S.A. bought a new stake in shares of GoDaddy during the first quarter worth about $1,138,000. PNC Financial Services Group Inc. increased its position in shares of GoDaddy by 27.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,281 shares of the technology company's stock worth $1,672,000 after acquiring an additional 1,986 shares in the last quarter. Commerce Bank increased its position in shares of GoDaddy by 1.7% during the first quarter. Commerce Bank now owns 41,593 shares of the technology company's stock worth $7,493,000 after acquiring an additional 682 shares in the last quarter. Alberta Investment Management Corp grew its position in GoDaddy by 66.9% in the 1st quarter. Alberta Investment Management Corp now owns 19,700 shares of the technology company's stock worth $3,549,000 after purchasing an additional 7,900 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in GoDaddy by 1,938.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,008 shares of the technology company's stock worth $4,865,000 after purchasing an additional 25,683 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $179.68, for a total value of $89,840.00. Following the completion of the transaction, the director directly owned 21,957 shares in the company, valued at $3,945,233.76. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $176.93, for a total transaction of $1,061,580.00. Following the completion of the transaction, the chief executive officer owned 425,015 shares of the company's stock, valued at approximately $75,197,903.95. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,757 shares of company stock worth $4,790,285 over the last ninety days. Company insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Benchmark reissued a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Piper Sandler raised their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Citigroup cut their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Jefferies Financial Group cut their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Down 2.4%

GoDaddy stock traded down $3.83 during midday trading on Tuesday, hitting $154.32. 740,859 shares of the company's stock were exchanged, compared to its average volume of 1,474,961. GoDaddy Inc. has a 12 month low of $147.49 and a 12 month high of $216.00. The company has a market cap of $21.99 billion, a PE ratio of 29.66 and a beta of 1.08. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average of $174.54 and a two-hundred day moving average of $181.36.

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.