Zurich Insurance Group Ltd FI Cuts Position in GoDaddy Inc. $GDDY

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in GoDaddy by 41.0%, selling 140,532 shares to own 202,646 shares valued at approximately $36.5 million as of the latest SEC filing.
• Insider trading activity included Director Leah Sweet selling 650 shares, and CEO Amanpal Singh Bhutani selling 6,950 shares, both indicating a decrease in their positions.
• GoDaddy's stock is currently rated as a Moderate Buy with an average price target of $202.43, according to multiple analysts, while the company has shown strong earnings performance with an EPS of $1.41 for the last quarter.

Zurich Insurance Group Ltd FI reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 41.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,646 shares of the technology company's stock after selling 140,532 shares during the period. Zurich Insurance Group Ltd FI owned 0.14% of GoDaddy worth $36,505,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of GoDaddy by 2.6% in 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 buying an additional 462,807 shares during the period. WCM Investment Management LLC lifted its position in GoDaddy by 2.0% in 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 acquiring an additional 67,152 shares in the last quarter. Invesco Ltd. lifted its position in GoDaddy by 13.8% in the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company's stock valued at $597,317,000 after acquiring an additional 401,918 shares in the last quarter. Wellington Management Group LLP lifted its position in GoDaddy by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 3,147,646 shares of the technology company's stock valued at $567,017,000 after acquiring an additional 371,188 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in GoDaddy by 41.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after acquiring an additional 710,842 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Leah Sweet sold 650 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total transaction of $91,741.00. Following the completion of the transaction, the director directly owned 12,064 shares in the company, valued at $1,702,712.96. The trade was a 5.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Phontip Palitwanon sold 777 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $110,497.17. Following the transaction, the chief accounting officer owned 20,421 shares of the company's stock, valued at $2,904,070.41. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,828 shares of company stock worth $5,424,888. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GDDY shares. Wells Fargo & Company dropped their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada dropped their target price on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Raymond James Financial dropped their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Barclays lowered their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Citigroup lowered their price target on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Stock Performance

GDDY stock traded down $3.29 during midday trading on Friday, reaching $145.30. 974,323 shares of the company's stock traded hands, compared to its average volume of 1,542,518. The company has a 50-day moving average price of $154.93 and a two-hundred day moving average price of $170.42. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. GoDaddy Inc. has a 52 week low of $132.51 and a 52 week high of $216.00. The firm has a market capitalization of $20.12 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The business 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 business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

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.