ING Groep NV Has $3.54 Million Stake in GoDaddy Inc. (NYSE:GDDY)

ING Groep NV decreased its stake in GoDaddy Inc. (NYSE:GDDY) by 72.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,931 shares of the technology company’s stock after selling 47,223 shares during the quarter. ING Groep NV’s holdings in GoDaddy were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its stake in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after buying an additional 53 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of GoDaddy by 13.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after acquiring an additional 88 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of GoDaddy by 31.1% in the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock worth $77,000 after acquiring an additional 93 shares in the last quarter. Finally, Avestar Capital LLC increased its holdings in shares of GoDaddy by 4.5% in the fourth quarter. Avestar Capital LLC now owns 2,206 shares of the technology company’s stock worth $435,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at $4,534,321.76. The trade was a 3.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at $38,283,445.20. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,482 shares of company stock valued at $4,903,930. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $173.82 on Friday. GoDaddy Inc. has a 12-month low of $108.38 and a 12-month high of $216.00. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15. The business has a 50 day moving average of $201.36 and a 200-day moving average of $181.13. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released its quarterly 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). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

GDDY has been the subject of several recent analyst reports. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Jefferies Financial Group increased their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Raymond James increased their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, UBS Group increased their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy 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.