Raiffeisen Bank International AG Invests $8.58 Million in GoDaddy Inc. (NYSE:GDDY)

Raiffeisen Bank International AG acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,000 shares of the technology company's stock, valued at approximately $8,576,000.

A number of other institutional investors also recently bought and sold shares of GDDY. Price T Rowe Associates Inc. MD boosted its stake in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after acquiring an additional 395,160 shares during the last quarter. Geode Capital Management LLC raised its holdings in GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after purchasing an additional 90,810 shares during the period. WCM Investment Management LLC lifted its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Invesco Ltd. grew its holdings in GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after purchasing an additional 304,033 shares during the period. Finally, Norges Bank bought a new stake in GoDaddy during the fourth quarter valued at about $356,038,000. Institutional investors own 90.28% of the company's stock.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $188.21, for a total transaction of $188,210.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the completion of the sale, the chief executive officer now directly owns 440,947 shares in the company, valued at $84,159,144.42. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,526 shares of company stock worth $10,243,716. 0.61% of the stock is currently owned by insiders.

GoDaddy Price Performance

GDDY stock traded down $5.42 during mid-day trading on Wednesday, hitting $182.73. The company had a trading volume of 586,444 shares, compared to its average volume of 1,476,502. The company has a 50-day moving average price of $179.11 and a 200 day moving average price of $189.30. GoDaddy Inc. has a 12-month low of $135.73 and a 12-month high of $216.00. The company has a market capitalization of $26.04 billion, a price-to-earnings ratio of 28.33 and a beta of 1.13. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.76 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

GDDY has been the topic of several recent research reports. Morgan Stanley decreased their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. B. Riley raised their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. UBS Group lifted their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a report on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $214.86.

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.