ING Groep NV Sells 64,952 Shares of GoDaddy Inc. (NYSE:GDDY)

ING Groep NV cut its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 45.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,200 shares of the technology company's stock after selling 64,952 shares during the quarter. ING Groep NV owned 0.05% of GoDaddy worth $8,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of GoDaddy by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company's stock valued at $473,713,000 after purchasing an additional 561,614 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company's stock valued at $123,963,000 after purchasing an additional 695,897 shares during the period. Northern Trust Corp boosted its stake in shares of GoDaddy by 36.8% in the third quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company's stock valued at $103,946,000 after purchasing an additional 375,568 shares during the period. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company's stock valued at $101,442,000 after purchasing an additional 928,273 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of GoDaddy by 1.1% in the third quarter. California Public Employees Retirement System now owns 924,488 shares of the technology company's stock valued at $68,856,000 after purchasing an additional 10,489 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. B. Riley raised their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Morgan Stanley boosted their price objective on GoDaddy from $132.00 to $137.00 and gave the company an "equal weight" rating in a report on Friday, May 3rd. Benchmark reaffirmed a "buy" rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday, May 1st. Piper Sandler lifted their target price on GoDaddy from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. Finally, Robert W. Baird upped their price target on GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $142.73.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were 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 owns 208,632 shares of the company's stock, valued at $23,806,997.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Amanpal Singh Bhutani sold 59,608 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $6,589,068.32. Following the completion of the sale, the chief executive officer now owns 394,423 shares of the company's stock, valued at $43,599,518.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,292 shares of company stock valued at $14,567,860. Insiders own 0.54% of the company's stock.

GoDaddy Stock Performance

GoDaddy stock traded up $0.69 during midday trading on Friday, reaching $135.70. 795,736 shares of the stock traded hands, compared to its average volume of 1,259,799. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $136.90. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 11.27 and a beta of 1.09. The firm has a fifty day moving average price of $124.09 and a two-hundred day moving average price of $111.06.

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.