BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 63.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,250 shares of the technology company's stock after selling 41,226 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in GoDaddy were worth $4,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GDDY. WCM Investment Management LLC boosted its holdings in GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the period. Norges Bank bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $356,038,000. Canada Pension Plan Investment Board grew its position in shares of GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after buying an additional 719,000 shares during the period. Congress Asset Management Co. purchased a new stake in GoDaddy in the fourth quarter worth about $111,923,000. Finally, Amundi grew its stake in shares of GoDaddy by 84.4% in the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after buying an additional 426,501 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Trading Up 1.7 %

Shares of GDDY stock traded up $3.02 on Friday, reaching $183.44. 1,223,605 shares of the company's stock were exchanged, compared to its average volume of 1,470,964. The company's fifty day simple moving average is $175.36 and its 200 day simple moving average is $186.38. The stock has a market capitalization of $25.93 billion, a PE ratio of 28.44 and a beta of 1.19. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52 week low of $120.59 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. As a group, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares in the company, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,518,150. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. B. Riley increased their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Morgan Stanley cut their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Benchmark raised their price target on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and an average price target of $209.60.

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.