BI Asset Management Fondsmaeglerselskab A S Sells 13,347 Shares of GoDaddy Inc. $GDDY

BI Asset Management Fondsmaeglerselskab A S reduced its position in GoDaddy Inc. (NYSE:GDDY) by 58.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,660 shares of the technology company’s stock after selling 13,347 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in GoDaddy were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GDDY. Sivia Capital Partners LLC increased its position in GoDaddy by 90.3% in the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the last quarter. Cerity Partners LLC increased its position in GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after buying an additional 9,062 shares during the last quarter. Treasurer of the State of North Carolina increased its position in GoDaddy by 83.0% in the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after buying an additional 70,585 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in GoDaddy in the second quarter worth $152,000. Finally, Main Street Financial Solutions LLC increased its position in GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after buying an additional 119 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer directly owned 19,995 shares in the company, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the sale, the chief financial officer owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. This represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 13,251 shares of company stock valued at $1,190,008. Company insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. Barclays decreased their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Benchmark decreased their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada decreased their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $120.57.

GoDaddy Stock Performance

Shares of GDDY opened at $81.70 on Wednesday. The company has a market cap of $10.82 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a 50-day moving average price of $85.71 and a 200-day moving average price of $98.80. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $181.49.

GoDaddy (NYSE:GDDY) last issued 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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.51 EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

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.