Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in GoDaddy Inc. (NYSE:GDDY)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,148 shares of the technology company’s stock after selling 5,935 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GoDaddy were worth $3,413,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GDDY. Massmutual Trust Co. FSB ADV grew its stake in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after purchasing an additional 205 shares during the last quarter. UMB Bank n.a. purchased a new position in GoDaddy in the fourth quarter valued at about $50,000. Tobam purchased a new position in GoDaddy in the fourth quarter valued at about $60,000. Fifth Third Bancorp purchased a new position in GoDaddy in the third quarter valued at about $43,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in GoDaddy in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GDDY. Royal Bank of Canada reiterated an “outperform” rating and issued a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Benchmark restated a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research note on Thursday, March 7th. Piper Sandler boosted their price target on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Morgan Stanley boosted their price target on GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, B. Riley boosted their price target on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.18.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,234 shares of company stock valued at $13,534,946. 0.54% of the stock is owned by company insiders.

GoDaddy Trading Up 1.1 %

GoDaddy stock opened at $121.44 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 12.68 and a beta of 1.12. The stock has a 50-day moving average price of $117.75 and a 200 day moving average price of $103.80.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Sell-side analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current year.

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.