BNP Paribas Financial Markets Trims Holdings in GoDaddy Inc. $GDDY

Key Points

• BNP Paribas Financial Markets has reduced its holdings in GoDaddy Inc. by 12.4%, selling 43,844 shares during the first quarter, and now owns approximately $55.6 million worth of the company.
• Several institutional investors, including Vanguard Group and JPMorgan Chase, have increased their stakes in GoDaddy, reflecting a growing confidence in the company's performance.
• GoDaddy reported earnings per share (EPS) of $1.41 for the last quarter, exceeding analyst expectations, with revenue increasing by 8.3% compared to the previous year.

BNP Paribas Financial Markets cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 308,640 shares of the technology company's stock after selling 43,844 shares during the quarter. BNP Paribas Financial Markets owned about 0.22% of GoDaddy worth $55,598,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its position in shares of GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of GoDaddy in the first quarter valued at $27,000. Private Trust Co. NA grew its position in shares of GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in GoDaddy during the first quarter valued at $30,000. Finally, GW&K Investment Management LLC boosted its stake in GoDaddy by 307.9% during the first quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after buying an additional 194 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Leah Sweet sold 650 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total value of $91,741.00. Following the completion of the sale, the director owned 12,064 shares of the company's stock, valued at approximately $1,702,712.96. The trade was a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $143.53, for a total value of $143,530.00. Following the completion of the sale, the chief operating officer directly owned 252,949 shares of the company's stock, valued at approximately $36,305,769.97. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,448 shares of company stock worth $3,266,423 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GDDY stock traded up $1.58 during mid-day trading on Thursday, hitting $145.07. 785,317 shares of the stock were exchanged, compared to its average volume of 1,588,164. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day moving average price of $159.34 and a 200 day moving average price of $171.96. GoDaddy Inc. has a 12 month low of $132.51 and a 12 month high of $216.00. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.60 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company's revenue was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GDDY. Raymond James Financial dropped 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. Barclays dropped their price objective on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Royal Bank Of Canada dropped their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company dropped their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.