Swiss National Bank Purchases 17,500 Shares of GoDaddy Inc. (NYSE:GDDY)

Swiss National Bank boosted its position in GoDaddy Inc. (NYSE:GDDY) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 418,300 shares of the technology company’s stock after acquiring an additional 17,500 shares during the period. Swiss National Bank owned 0.30% of GoDaddy worth $65,581,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Kodai Capital Management LP purchased a new stake in GoDaddy in the 1st quarter worth approximately $75,855,000. Federated Hermes Inc. grew its position in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after buying an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares during the period. Finally, Mizuho Securities USA LLC raised its holdings in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after acquiring an additional 350,839 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on GDDY shares. Robert W. Baird lifted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday. Raymond James lifted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 2,976 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now owns 14,728 shares in the company, valued at $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,845 shares of company stock worth $4,803,380. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $187.46 on Wednesday. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 14.49 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1 year low of $91.86 and a 1 year high of $190.21. The firm’s 50-day moving average is $163.41 and its 200 day moving average is $151.84.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

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.