Banque Cantonale Vaudoise Increases Position in GoDaddy Inc. (NYSE:GDDY)

Banque Cantonale Vaudoise grew its position in GoDaddy Inc. (NYSE:GDDY) by 90.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,677 shares of the technology company’s stock after purchasing an additional 8,853 shares during the quarter. Banque Cantonale Vaudoise’s holdings in GoDaddy were worth $2,928,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares during the last quarter. Whittier Trust Co. boosted its holdings in GoDaddy by 4.3% in the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC increased its stake in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares during the last quarter. Finally, Equitable Trust Co. raised its holdings in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 107 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Barclays upped their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This trade 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 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $187.46 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $91.86 and a 12-month high of $190.21. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 14.49 and a beta of 1.11. The stock has a 50 day simple moving average of $163.41 and a 200-day simple moving average of $151.84.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating 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 company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that GoDaddy Inc. will post 4.95 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.