Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,724 shares of the technology company's stock after purchasing an additional 1,673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in GoDaddy were worth $5,669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the third quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the fourth quarter worth $43,000. Huntington National Bank raised its position in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after buying an additional 230 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of GoDaddy in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GDDY. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price objective for the company. Jefferies Financial Group boosted their target price on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $213.20.

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Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the transaction, the chief operating officer now directly owns 183,632 shares of the company's stock, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,480 shares of company stock worth $3,641,819 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

GDDY stock traded down $1.94 during trading on Tuesday, hitting $178.18. The company had a trading volume of 1,254,161 shares, compared to its average volume of 1,336,127. GoDaddy Inc. has a 1-year low of $117.33 and a 1-year high of $216.00. The firm has a 50-day moving average price of $192.60 and a 200-day moving average price of $182.83. 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 firm has a market cap of $25.19 billion, a PE ratio of 27.63 and a beta of 1.25.

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

GoDaddy Company 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.