BNP Paribas Financial Markets Purchases 50,959 Shares of GoDaddy Inc. $GDDY

Key Points

• BNP Paribas Financial Markets increased its GoDaddy position by 5.7% in the fourth quarter, buying 50,959 shares and bringing its total stake to 945,202 shares valued at about $117.3 million.
• Institutional ownership remains very high, with funds and other institutions holding 90.28% of GoDaddy shares. Several other investors also added to their positions during recent quarters.
• GoDaddy reported better-than-expected quarterly results, posting EPS of $1.60 versus the $1.53 estimate and revenue of $1.27 billion, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $120.57.

BNP Paribas Financial Markets lifted its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 945,202 shares of the technology company's stock after acquiring an additional 50,959 shares during the period. BNP Paribas Financial Markets owned approximately 0.70% of GoDaddy worth $117,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its position in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company's stock valued at $258,000 after acquiring an additional 86 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of GoDaddy by 0.9% during the third quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company's stock valued at $1,686,000 after acquiring an additional 104 shares in the last quarter. Main Street Financial Solutions LLC increased its position in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock valued at $2,185,000 after acquiring an additional 119 shares in the last quarter. Martin Capital Advisors LLP increased its position in shares of GoDaddy by 1.5% during the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company's stock valued at $1,127,000 after acquiring an additional 130 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of GoDaddy by 18.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company's stock valued at $103,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of GoDaddy in a research report on Thursday, March 12th. They set a "neutral" rating and a $93.00 price target for the company. Wells Fargo & Company lifted their target price on shares of GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Evercore set a $95.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada cut their target price on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and an average target price of $120.57.

Insider Transactions at GoDaddy

In other news, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares in the company, valued at $1,834,462.35. This trade represents a 6.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 61,296 shares of company stock worth $5,446,506 in the last 90 days. 0.93% of the stock is currently owned by insiders.

GoDaddy Trading Up 0.2%

NYSE:GDDY opened at $85.97 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $183.34. The company has a market cap of $11.38 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90. The company has a 50 day simple moving average of $85.28 and a two-hundred day simple moving average of $100.93.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm's revenue was up 6.1% on a year-over-year basis. Research analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current year.

About GoDaddy

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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