Pictet Asset Management Holding SA Has $5.62 Million Stock Position in GoDaddy Inc. $GDDY

Pictet Asset Management Holding SA lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,967 shares of the technology company’s stock after selling 24,256 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.05% of GoDaddy worth $5,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GDDY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy during the 4th quarter worth approximately $25,000. Rachor Investment Advisory Services LLC bought a new stake in GoDaddy in the 4th quarter valued at $25,000. Activest Wealth Management raised its stake in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Harbour Investments Inc. lifted its holdings in GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the last quarter. Finally, Entrust Financial LLC acquired a new stake in GoDaddy during the 4th quarter valued at $35,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $88.42 on Friday. The firm has a 50-day moving average price of $84.81 and a two-hundred day moving average price of $93.12. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $179.61. The company has a market capitalization of $11.71 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.80 and a beta of 0.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion during 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%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 earnings per share. Analysts anticipate that GoDaddy Inc. will post 7.13 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $48,704.12. Following the sale, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the transaction, the chief financial officer owned 109,228 shares in the company, valued at $9,815,228.08. The trade was a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,751 shares of company stock valued at $1,480,228 over the last 90 days. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GDDY has been the topic of several research reports. Piper Sandler initiated coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. JPMorgan Chase & Co. reduced their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. UBS Group initiated coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. Finally, Wells Fargo & Company increased their price target 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target 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.