BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 4,698 Shares of GoDaddy Inc. $GDDY

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in GoDaddy Inc. by 7.7% during the first quarter, now owning 65,755 shares valued at $11.84 million.
• GoDaddy reported $1.41 earnings per share (EPS) for its latest quarter, surpassing analysts' expectations of $1.34, with revenue increasing 8.3% compared to the previous year.
• Institutional investors hold 90.28% of GoDaddy's stock, indicating strong institutional confidence in the company's performance.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,755 shares of the technology company's stock after acquiring an additional 4,698 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in GoDaddy were worth $11,844,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GDDY. BNP Paribas raised its holdings in GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after purchasing an additional 59 shares during the period. City Holding Co. grew its holdings in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the period. Equitable Trust Co. increased its position in GoDaddy by 1.0% in the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after buying an additional 64 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after buying an additional 67 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in shares of GoDaddy by 4.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock worth $344,000 after buying an additional 71 shares during the period. Institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

NYSE:GDDY opened at $146.12 on Monday. The business's 50-day moving average is $167.44 and its 200 day moving average is $177.07. GoDaddy Inc. has a 12 month low of $132.51 and a 12 month high of $216.00. The company has a market capitalization of $20.23 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.58 and a beta of 1.08. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%. The company's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $160.47, for a total transaction of $80,235.00. Following the completion of the transaction, the director owned 21,457 shares in the company, valued at $3,443,204.79. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total transaction of $91,741.00. Following the completion of the transaction, the director directly owned 12,064 shares of the company's stock, valued at $1,702,712.96. The trade was a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,881 shares of company stock valued at $5,725,860 in the last three months. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James Financial cut their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Barclays decreased their price objective on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, GoDaddy has an average rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Company 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.

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