BNP Paribas Financial Markets Raises Position in GoDaddy Inc. $GDDY

BNP Paribas Financial Markets raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 945,202 shares of the technology company’s stock after acquiring an additional 50,959 shares during the quarter. BNP Paribas Financial Markets’ holdings in GoDaddy were worth $117,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of GoDaddy during the 4th quarter valued at $250,020,000. Ameriprise Financial Inc. lifted its stake in shares of GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after buying an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after buying an additional 814,360 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of GoDaddy by 318.6% during the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock valued at $100,632,000 after buying an additional 559,757 shares in the last quarter. Finally, Swedbank AB lifted its stake 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 buying an additional 524,811 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $85.97 on Monday. 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 cap of $11.38 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.77 and a beta of 0.90. The firm’s fifty day moving average is $85.28 and its two-hundred day moving average is $100.93. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $183.34.

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

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares in the company, valued at approximately $10,056,136.97. The trade was a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,296 shares of company stock worth $5,446,506. Insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GDDY. Piper Sandler began coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. Barclays lowered their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald lowered their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Citigroup lowered their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

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.