Swiss Life Asset Management Ltd Raises Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Swiss Life Asset Management boosted its GoDaddy stake by 231.5% in the fourth quarter, ending with 72,327 shares valued at about $8.97 million.
• Other institutions also increased positions, and 90.28% of GoDaddy’s stock is held by institutional investors, underscoring strong Wall Street ownership.
• GoDaddy posted better-than-expected quarterly results with EPS of $1.60 versus $1.53 expected and revenue of $1.27 billion, while analysts currently view the stock as a Moderate Buy with a consensus price target of $120.57.

Swiss Life Asset Management Ltd grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 231.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,327 shares of the technology company's stock after acquiring an additional 50,512 shares during the quarter. Swiss Life Asset Management Ltd owned 0.05% of GoDaddy worth $8,974,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GDDY. Ameriprise Financial Inc. boosted its holdings in GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock worth $483,360,000 after acquiring an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP boosted its holdings in GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock worth $223,183,000 after acquiring an additional 814,360 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in GoDaddy by 318.6% in the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company's stock worth $100,632,000 after acquiring an additional 559,757 shares in the last quarter. Swedbank AB boosted its holdings in GoDaddy by 433.9% in the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company's stock worth $80,125,000 after acquiring an additional 524,811 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in GoDaddy by 85.2% in the third quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company's stock worth $122,359,000 after acquiring an additional 411,349 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Benchmark dropped their target price on GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Wells Fargo & Company boosted their target price on GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of GoDaddy in a report on Wednesday, January 28th. Barclays dropped their target price on GoDaddy from $200.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Finally, Morgan Stanley lowered their price target on GoDaddy from $159.00 to $145.00 and set an "equal weight" rating on the stock in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and a consensus price target of $120.57.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the transaction, the chief financial officer owned 113,003 shares of the company's stock, valued at $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer directly owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,918 shares of company stock worth $5,500,469 over the last ninety days. Company insiders own 0.93% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY opened at $86.96 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The business has a 50-day simple moving average of $84.94 and a two-hundred day simple moving average of $104.87. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.79 and a beta of 0.92. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $190.50.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 EPS. On average, analysts expect that GoDaddy Inc. will post 7.17 EPS for the current year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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