Zurich Insurance Group Ltd FI Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Zurich Insurance Group Ltd FI lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 343,178 shares of the technology company's stock after buying an additional 42,901 shares during the period. Zurich Insurance Group Ltd FI owned about 0.24% of GoDaddy worth $67,733,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in GoDaddy in the 4th quarter valued at approximately $25,554,000. Mount Yale Investment Advisors LLC increased its stake in GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company's stock valued at $1,110,000 after purchasing an additional 3,783 shares in the last quarter. Jones Financial Companies Lllp increased its stake in GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after purchasing an additional 499 shares in the last quarter. Cottonwood Capital Advisors LLC increased its stake in GoDaddy by 98.2% in the 4th quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company's stock valued at $672,000 after purchasing an additional 1,687 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in GoDaddy in the 4th quarter valued at approximately $271,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Trading Down 0.2%

Shares of GDDY opened at $189.86 on Tuesday. The stock's 50-day moving average is $178.78 and its two-hundred day moving average is $189.31. The stock has a market cap of $27.05 billion, a PE ratio of 29.44 and a beta of 1.13. GoDaddy Inc. has a 12 month low of $135.03 and a 12 month high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 EPS. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the sale, the chief executive officer now directly owns 505,649 shares of the company's stock, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $188.21, for a total value of $188,210.00. Following the sale, the chief operating officer now owns 255,949 shares in the company, valued at $48,172,161.29. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,526 shares of company stock worth $10,243,716 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on GDDY shares. Piper Sandler raised their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Barclays dropped their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Raymond James raised their price target on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price objective on GoDaddy from $230.00 to $225.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Company Profile

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.

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