Vontobel Holding Ltd. Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Vontobel Holding Ltd. increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 53.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,171 shares of the technology company's stock after acquiring an additional 2,162 shares during the period. Vontobel Holding Ltd.'s holdings in GoDaddy were worth $1,112,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in GoDaddy by 11.6% in 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 buying an additional 395,160 shares in the last quarter. Geode Capital Management LLC lifted its stake in GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after buying an additional 90,810 shares in the last quarter. Invesco Ltd. lifted its stake in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after buying an additional 304,033 shares in the last quarter. Norges Bank purchased a new position in GoDaddy in the 4th quarter valued at about $356,038,000. Finally, Northern Trust Corp lifted its stake in GoDaddy by 8.8% in the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock valued at $282,275,000 after buying an additional 115,341 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the transaction, the chief operating officer directly owned 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the transaction, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,757 shares of company stock valued at $12,246,080. 0.61% of the stock is owned by insiders.

GoDaddy Stock Down 1.0%

GDDY traded down $1.73 on Tuesday, hitting $176.86. 1,093,023 shares of the company were exchanged, compared to its average volume of 1,333,461. GoDaddy Inc. has a twelve month low of $140.11 and a twelve month high of $216.00. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 34.01 and a beta of 1.05. 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 firm has a 50-day moving average price of $181.26 and a two-hundred day moving average price of $185.56.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $2.76 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GDDY shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a research note on Monday, June 23rd. JPMorgan Chase & Co. increased their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Jefferies Financial Group reduced their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Finally, Barclays reduced their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $214.86.

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.