BI Asset Management Fondsmaeglerselskab A S Has $1.20 Million Stake in GoDaddy Inc. $GDDY

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its GoDaddy stake by 58% in the fourth quarter, selling 13,347 shares and leaving it with 9,660 shares worth about $1.2 million.
• GoDaddy executives also sold stock: CEO Amanpal Singh Bhutani sold 8,373 shares and CAO Phontip Palitwanon sold 542 shares, both tied to tax withholding on vested equity awards.
• The company recently reported better-than-expected results, with Q1 earnings of $1.60 per share versus estimates of $1.53 and revenue of $1.27 billion, while analysts still rate the stock a consensus “Moderate Buy” with a target price of $120.57.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 58.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.

Several other hedge funds have also recently made changes to their positions in GDDY. Sivia Capital Partners LLC boosted its stake in GoDaddy by 90.3% during the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company's stock worth $589,000 after acquiring an additional 1,552 shares in the last quarter. Cerity Partners LLC increased its stake in GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company's stock valued at $4,896,000 after purchasing an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company's stock valued at $28,016,000 after purchasing an additional 70,585 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of GoDaddy during the second quarter valued at about $152,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock valued at $2,185,000 after buying an additional 119 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the transaction, the chief executive officer owned 521,747 shares of the company's stock, valued at $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, 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 position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 13,251 shares of company stock worth $1,190,008 in the last quarter. 0.93% of the stock is owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $81.70 on Wednesday. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $181.49. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.73 and a beta of 0.90. 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 firm's 50-day simple moving average is $85.71 and its 200 day simple moving average is $98.80.

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

Wall Street Analyst Weigh In

GDDY has been the topic of several recent research reports. UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 price target on the stock. Royal Bank Of Canada reduced their price objective on GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Evercore set a $95.00 price objective on GoDaddy in a research note on Wednesday, February 25th. Barclays reduced their price objective on GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Jefferies Financial Group reduced their price objective on GoDaddy from $140.00 to $100.00 and set a "hold" rating for the company in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.57.

GoDaddy Company 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.

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