Zurich Insurance Group Ltd FI Buys 79,927 Shares of GoDaddy Inc. (NYSE:GDDY)

Zurich Insurance Group Ltd FI raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 36.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,277 shares of the technology company's stock after purchasing an additional 79,927 shares during the quarter. Zurich Insurance Group Ltd FI owned approximately 0.21% of GoDaddy worth $47,077,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in GoDaddy during the 3rd quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in GoDaddy in the second quarter valued at about $28,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy during the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new position in GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy during the second quarter worth $36,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Nick Daddario sold 2,976 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,925 shares of company stock valued at $4,237,184. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Royal Bank of Canada restated an "outperform" rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday. StockNews.com downgraded GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $181.57.

GoDaddy Trading Down 0.9 %

Shares of GDDY traded down $1.98 during trading hours on Friday, hitting $206.56. 1,044,259 shares of the stock were exchanged, compared to its average volume of 1,391,428. GoDaddy Inc. has a fifty-two week low of $99.90 and a fifty-two week high of $210.30. The business has a 50-day moving average of $175.50 and a 200-day moving average of $157.95. The firm has a market capitalization of $29.00 billion, a P/E ratio of 15.96 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.89 EPS. The business's revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that GoDaddy Inc. will post 4.93 EPS for the current 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.