Zurcher Kantonalbank Zurich Cantonalbank Has $18.99 Million Stake in GoDaddy Inc. $GDDY

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 37.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 153,028 shares of the technology company’s stock after acquiring an additional 41,893 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GoDaddy were worth $18,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GDDY. Hemington Wealth Management lifted its position in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy during the fourth quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in shares of GoDaddy during the third quarter worth approximately $31,000. Brown Brothers Harriman & Co. increased its stake in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares during the period. Finally, Rossby Financial LCC increased its stake in shares of GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after purchasing an additional 158 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other GoDaddy news, Director Leah Sweet sold 650 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director owned 11,414 shares in the company, valued at $991,420.04. This trade represents a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 1,310 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares in the company, valued at approximately $1,834,462.35. This trade represents a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,918 shares of company stock worth $5,500,469 in the last quarter. Insiders own 0.70% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock opened at $88.29 on Thursday. The stock’s fifty day moving average price is $85.30 and its two-hundred day moving average price is $108.88. GoDaddy Inc. has a one year low of $73.06 and a one year high of $193.55. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $11.77 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.78 and a beta of 0.98.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company earned $1.36 EPS. The company’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 7.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Piper Sandler assumed coverage on GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. Cantor Fitzgerald lowered their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Citigroup lowered their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.57.

About GoDaddy

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.