GoDaddy Inc. (NYSE:GDDY) Position Increased by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 hedge funds and other institutional investors have also made changes to their positions in GDDY. Barclays PLC increased its stake in GoDaddy by 28.7% during the third quarter. Barclays PLC now owns 447,425 shares of the technology company's stock valued at $70,147,000 after purchasing an additional 99,734 shares during the last quarter. Merit Financial Group LLC bought a new stake in GoDaddy during the fourth quarter valued at $290,000. Arkadios Wealth Advisors increased its stake in GoDaddy by 45.7% during the fourth quarter. Arkadios Wealth Advisors now owns 1,919 shares of the technology company's stock valued at $379,000 after purchasing an additional 602 shares during the last quarter. HB Wealth Management LLC increased its stake in GoDaddy by 53.2% during the fourth quarter. HB Wealth Management LLC now owns 2,745 shares of the technology company's stock valued at $542,000 after purchasing an additional 953 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in GoDaddy during the fourth quarter valued at $271,000. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the sale, the director now directly owns 22,121 shares of the company's stock, valued at approximately $3,996,379.86. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the sale, the chief executive officer now directly owns 505,649 shares of the company's stock, valued at $91,350,548.34. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,526 shares of company stock valued at $10,243,716. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

GDDY stock traded down $1.16 during trading on Friday, hitting $182.81. The company had a trading volume of 880,082 shares, compared to its average volume of 1,487,199. The firm has a market capitalization of $26.05 billion, a price-to-earnings ratio of 28.34 and a beta of 1.13. The business has a 50 day moving average of $179.43 and a 200 day moving average of $189.59. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during 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 business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.76 EPS. As a group, research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on GDDY. Jefferies Financial Group lowered their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. B. Riley boosted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Morgan Stanley lowered their target price 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. Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Finally, UBS Group upped their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy 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.