Vontobel Holding Ltd. Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Vontobel Holding Ltd. reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 22.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,726 shares of the technology company’s stock after selling 8,322 shares during the quarter. Vontobel Holding Ltd.’s holdings in GoDaddy were worth $3,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in shares of GoDaddy by 517.4% during the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock worth $458,311,000 after purchasing an additional 5,133,332 shares during the last quarter. Starboard Value LP boosted its position in GoDaddy by 23.9% during the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after acquiring an additional 1,973,118 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter worth approximately $116,303,000. Goldman Sachs Group Inc. lifted its stake in shares of GoDaddy by 108.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company’s stock worth $116,903,000 after purchasing an additional 727,582 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of GoDaddy by 201.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,068,773 shares of the technology company’s stock worth $83,065,000 after purchasing an additional 713,798 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $121.29 on Friday. The firm has a market cap of $17.28 billion, a P/E ratio of 12.66 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $127.15. The stock has a 50-day simple moving average of $117.25 and a 200-day simple moving average of $102.60.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. On average, equities analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Insiders have sold 121,234 shares of company stock worth $13,534,946 in the last quarter. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GDDY shares. Morgan Stanley upped their target price on GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Robert W. Baird boosted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $124.00 price target on shares of GoDaddy in a research report on Thursday, March 7th. Piper Sandler lifted their price target on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.18.

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.