KBC Group NV Sells 3,578 Shares of GoDaddy Inc. (NYSE:GDDY)

KBC Group NV decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 820,708 shares of the technology company's stock after selling 3,578 shares during the quarter. KBC Group NV owned approximately 0.58% of GoDaddy worth $147,843,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of GoDaddy during the 4th quarter worth about $25,554,000. Sowell Financial Services LLC acquired a new position in GoDaddy during the first quarter valued at approximately $291,000. Jones Financial Companies Lllp grew its stake in GoDaddy by 68.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after purchasing an additional 499 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of GoDaddy by 16.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock worth $134,000 after purchasing an additional 98 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of GoDaddy by 22.9% during the 4th quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock worth $13,048,000 after purchasing an additional 12,328 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GDDY. Piper Sandler raised their target price on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a research report on Monday, June 23rd. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $214.86.

Insider Transactions at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,173 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the transaction, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $182.03, for a total transaction of $91,015.00. Following the completion of the sale, the director owned 20,621 shares of the company's stock, valued at approximately $3,753,640.63. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,632 shares of company stock worth $10,983,985. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $1.69 during trading hours on Tuesday, reaching $178.37. 1,268,359 shares of the stock were exchanged, compared to its average volume of 1,334,150. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 34.30 and a beta of 1.05. The stock's fifty day simple moving average is $181.87 and its 200 day simple moving average is $186.53. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a 52 week low of $140.11 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $2.76 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

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.