GoDaddy Inc. (NYSE:GDDY) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank has reduced its holdings in GoDaddy Inc. by 0.6%, selling 2,200 shares, and now owns approximately 396,000 shares worth $71.3 million.
• Several large investors, including Deutsche Bank AG and Mitsubishi UFJ Asset Management Co. Ltd., have increased their positions in GoDaddy during the first quarter, indicating a growing interest among institutional investors.
• Analysts have recently downgraded their target prices for GoDaddy, with Barclays lowering its target from $235.00 to $200.00, while the stock has seen a significant decline of 11.2% recently.

Swiss National Bank lowered its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 396,000 shares of the technology company's stock after selling 2,200 shares during the period. Swiss National Bank owned about 0.28% of GoDaddy worth $71,335,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GDDY. Vanguard Group Inc. increased its stake in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company's stock valued at $3,266,697,000 after purchasing an additional 462,807 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after purchasing an additional 395,160 shares in the last quarter. WCM Investment Management LLC increased its stake in GoDaddy by 2.0% during the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock valued at $620,931,000 after purchasing an additional 67,152 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock valued at $402,946,000 after purchasing an additional 1,610,890 shares in the last quarter. Finally, Northern Trust Corp increased its stake in GoDaddy by 8.8% during the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock valued at $282,275,000 after purchasing an additional 115,341 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

GDDY traded up $0.31 on Thursday, hitting $143.63. 2,641,136 shares of the company's stock were exchanged, compared to its average volume of 1,579,502. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 9.33. The firm has a 50-day moving average price of $168.91 and a 200-day moving average price of $178.46. The stock has a market cap of $20.47 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.52 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total transaction of $169,590.00. Following the sale, the chief operating officer directly owned 253,949 shares in the company, valued at $43,067,210.91. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred 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 sale, the director owned 21,457 shares in the company, valued at $3,443,204.79. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,257 shares of company stock valued at $5,639,070. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler set a $182.00 price target on shares of GoDaddy and gave the stock an "overweight" rating in a research note on Friday, August 8th. Raymond James Financial reduced their price target on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. Morgan Stanley reduced their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Barclays reduced their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

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.