GoDaddy Inc. (NYSE:GDDY) Stake Lessened by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,732 shares of the technology company's stock after selling 2,821 shares during the quarter. J. Safra Sarasin Holding AG's holdings in GoDaddy were worth $3,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after acquiring an additional 90,810 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares during the last quarter. Invesco Ltd. raised its position in shares of GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after buying an additional 304,033 shares during the period. Norges Bank acquired a new position in GoDaddy in the fourth quarter valued at $356,038,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the sale, the director now owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Performance

Shares of GDDY traded up $3.02 during mid-day trading on Friday, hitting $183.44. The stock had a trading volume of 1,223,605 shares, compared to its average volume of 1,470,964. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company has a market cap of $25.93 billion, a PE ratio of 28.44 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $120.59 and a fifty-two week high of $216.00. The company's fifty day simple moving average is $175.36 and its two-hundred day simple moving average is $186.38.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Morgan Stanley lowered their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $209.60.

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.