Banque Cantonale Vaudoise Purchases 6,751 Shares of GoDaddy Inc. $GDDY

Banque Cantonale Vaudoise lifted its position in GoDaddy Inc. (NYSE:GDDY) by 123.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,204 shares of the technology company’s stock after purchasing an additional 6,751 shares during the period. Banque Cantonale Vaudoise’s holdings in GoDaddy were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GDDY. Norges Bank bought a new position in GoDaddy in the 4th quarter worth $250,020,000. AQR Capital Management LLC lifted its position in shares of GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after acquiring an additional 1,615,005 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after acquiring an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after acquiring an additional 814,360 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of GoDaddy by 318.6% in the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after acquiring an additional 559,757 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the transaction, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at $1,796,750.70. The trade was a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the sale, the chief financial officer owned 105,728 shares of the company’s stock, valued at $8,766,965.76. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by corporate insiders.

GoDaddy Trading Up 6.7%

GDDY stock opened at $84.63 on Friday. The firm has a fifty day moving average price of $84.82 and a 200 day moving average price of $94.51. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $181.49. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $11.21 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 earnings per share. Sell-side analysts anticipate that GoDaddy Inc. will post 7.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target for the company. Wells Fargo & Company increased their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Piper Sandler initiated coverage on shares of GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.