Swiss National Bank Cuts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Swiss National Bank decreased its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 436,100 shares of the technology company's stock after selling 35,100 shares during the quarter. Swiss National Bank owned 0.31% of GoDaddy worth $46,296,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GDDY. Massmutual Trust Co. FSB ADV lifted its holdings in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock valued at $37,000 after buying an additional 205 shares during the period. UMB Bank n.a. acquired a new stake in shares of GoDaddy in the fourth quarter valued at $50,000. Tobam acquired a new stake in shares of GoDaddy in the fourth quarter valued at $60,000. Fifth Third Bancorp acquired a new stake in shares of GoDaddy in the third quarter valued at $43,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in shares of GoDaddy in the third quarter valued at $44,000. Institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on GoDaddy from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Raymond James started coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price objective for the company. StockNews.com raised GoDaddy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley increased their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average target price of $142.73.

GoDaddy Price Performance

Shares of NYSE GDDY traded up $3.02 during mid-day trading on Tuesday, hitting $131.36. 1,892,291 shares of the stock traded hands, compared to its average volume of 1,473,435. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.47. GoDaddy Inc. has a twelve month low of $68.98 and a twelve month high of $131.90. The company has a market cap of $18.72 billion, a PE ratio of 10.91 and a beta of 1.09. The firm has a 50 day simple moving average of $120.63 and a two-hundred day simple moving average of $107.64.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, equities research analysts forecast that GoDaddy Inc. will post 4.93 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares of the company's stock, valued at approximately $23,806,997.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares of the company's stock, valued at approximately $23,806,997.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 624 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the sale, the chief financial officer now directly owns 116,328 shares of the company's stock, valued at $14,055,912.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,234 shares of company stock valued at $14,025,346. Corporate insiders own 0.54% of the company's stock.

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.