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

Banque Cantonale Vaudoise boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 123.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,204 shares of the technology company’s stock after buying an additional 6,751 shares during the quarter. Banque Cantonale Vaudoise’s holdings in GoDaddy were worth $1,009,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Rachor Investment Advisory Services LLC bought a new position in GoDaddy in the 4th quarter worth about $25,000. Activest Wealth Management raised its stake in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $25,000. Brown Brothers Harriman & Co. boosted its holdings in shares of GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after purchasing an additional 150 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in shares of GoDaddy by 191.0% in the fourth 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 period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GDDY shares. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. UBS Group began coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target on the stock. Piper Sandler assumed coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective for the company. Benchmark dropped their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, Wells Fargo & Company raised their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.43.

GoDaddy Stock Up 6.7%

Shares of GoDaddy stock opened at $84.63 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The company has a market cap of $11.21 billion, a P/E ratio of 13.39, a PEG ratio of 0.77 and a beta of 0.90. The firm’s 50 day moving average price is $84.82 and its 200-day moving average price is $94.51. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $181.49.

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

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the sale, the chief accounting officer directly owned 19,995 shares in the company, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $290,220.00. Following the completion of the sale, the chief financial officer directly owned 105,728 shares of the company’s stock, valued at approximately $8,766,965.76. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In 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 company insiders.

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.