Zurcher Kantonalbank Zurich Cantonalbank Purchases 41,893 Shares of GoDaddy Inc. $GDDY

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in GoDaddy by 37.7% in Q4, buying 41,893 shares to hold 153,028 shares worth about $18.99 million (≈0.11% of the company).
• Company insiders sold a total of 61,918 shares in the past three months valued at roughly $5.5 million, leaving corporate insiders with just 0.70% ownership.
• GoDaddy beat quarterly EPS estimates ($1.80 vs. $1.58) with revenue of $1.27 billion (up 6.8% year-over-year); analysts have trimmed some price targets but the consensus rating is a Moderate Buy with an average target of $125.57.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 37.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,028 shares of the technology company's stock after buying an additional 41,893 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.11% of GoDaddy worth $18,988,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of GoDaddy by 0.8% during the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company's stock worth $2,587,754,000 after buying an additional 150,045 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of GoDaddy by 1.8% during the third quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company's stock worth $529,395,000 after buying an additional 66,144 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock worth $483,360,000 after buying an additional 1,128,646 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GoDaddy by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company's stock worth $396,378,000 after buying an additional 53,811 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of GoDaddy by 99.7% during the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock worth $223,183,000 after buying an additional 814,360 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 1,310 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer directly owned 20,349 shares of the company's stock, valued at $1,834,462.35. This trade represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Leah Sweet sold 650 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the completion of the sale, the director directly owned 11,414 shares of the company's stock, valued at approximately $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,918 shares of company stock valued at $5,500,469. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of research reports. Barclays decreased their price objective on GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, February 26th. Wells Fargo & Company reduced their price target on GoDaddy from $145.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 25th. Benchmark reduced their price target on GoDaddy from $240.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, February 23rd. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Finally, Morgan Stanley reduced their price target on GoDaddy from $159.00 to $145.00 and set an "equal weight" rating for the company in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $125.57.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $88.29 on Thursday. The stock has a 50 day moving average price of $85.30 and a 200 day moving average price of $108.88. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $11.77 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.78 and a beta of 0.98.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the firm posted $1.36 earnings per share. The business's quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that GoDaddy Inc. will post 7.3 earnings per share for the current fiscal year.

About GoDaddy

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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