Swiss National Bank Has $78.59 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Swiss National Bank trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 398,200 shares of the technology company’s stock after selling 20,100 shares during the period. Swiss National Bank owned 0.28% of GoDaddy worth $78,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC acquired a new position in GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter worth $43,000. Rakuten Securities Inc. lifted its position in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in GoDaddy during the fourth quarter valued at about $49,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock opened at $176.06 on Friday. The business has a 50 day simple moving average of $192.98 and a 200 day simple moving average of $182.47. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market capitalization of $24.89 billion, a PE ratio of 27.30 and a beta of 1.25. GoDaddy Inc. has a one year low of $115.19 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the transaction, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. This represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock worth $3,849,169 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDDY. Piper Sandler lifted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird raised their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

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.