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

Vontobel Holding Ltd. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,296 shares of the technology company’s stock after selling 319 shares during the period. Vontobel Holding Ltd.’s holdings in GoDaddy were worth $1,771,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of GoDaddy in the second quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the 3rd quarter valued at $30,000. GAMMA Investing LLC boosted its position in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. ORG Partners LLC bought a new stake in GoDaddy in the 2nd quarter worth $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy in the 2nd quarter worth $36,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $172.00 target price (up from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Raymond James increased their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research note on Tuesday, October 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Finally, Robert W. Baird boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.54.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at $30,637,509.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,744 shares of company stock worth $5,114,931 over the last 90 days. 0.61% of the stock is currently owned by insiders.

GoDaddy Price Performance

Shares of GDDY opened at $164.70 on Friday. The firm’s 50-day simple moving average is $159.14 and its two-hundred day simple moving average is $144.63. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The stock has a market cap of $23.50 billion, a PE ratio of 13.68 and a beta of 1.12. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Analysts anticipate that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

About GoDaddy

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.