ING Groep NV Sells 84,599 Shares of GoDaddy Inc. $GDDY

ING Groep NV lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 45.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,599 shares of the technology company’s stock after selling 84,599 shares during the quarter. ING Groep NV owned approximately 0.08% of GoDaddy worth $12,855,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GDDY. American Century Companies Inc. grew its stake in GoDaddy by 130.5% in the 3rd quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock valued at $20,720,000 after buying an additional 85,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of GoDaddy during the 3rd quarter valued at $30,575,000. BNP Paribas Financial Markets grew its position in shares of GoDaddy by 5.7% during the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after purchasing an additional 50,959 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of GoDaddy by 22,341.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock valued at $14,535,000 after purchasing an additional 116,620 shares in the last quarter. Finally, Swedbank AB grew its position in shares of GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after purchasing an additional 524,811 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $84.59 on Monday. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $183.34. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $11.20 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.76 and a beta of 0.90. The company has a fifty day moving average of $85.70 and a 200-day moving average of $99.42.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $1.51 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. UBS Group assumed coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Piper Sandler assumed coverage on shares of GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target for the company. Evercore set a $95.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company boosted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.57.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 3,958 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the sale, the chief financial officer directly owned 109,228 shares of the company’s stock, valued at $9,815,228.08. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the sale, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,561 shares of company stock valued at $1,308,104. Company insiders own 0.93% of the company’s stock.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.