UBS Group AG Sells 24,272 Shares of GoDaddy Inc. $GDDY

Key Points

• UBS sold 24,272 GoDaddy shares in Q4, trimming its stake by 1.9% to 1,235,188 shares (about 0.91% of the company) valued at roughly $153.3 million at quarter-end.
• Analysts have cut price targets recently (e.g., Barclays to $118, Citi to $110, Cantor to $90), leaving a MarketBeat average target of $123.79 and an overall consensus rating of “Moderate Buy.”
• Insiders have been net sellers (61,918 shares worth $5.5M in the past 90 days), even as GoDaddy reported an earnings beat—$1.60 EPS vs. $1.53 estimate—and revenue of $1.27B, up 6.1% year-over-year.

UBS Group AG decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,235,188 shares of the technology company's stock after selling 24,272 shares during the quarter. UBS Group AG owned about 0.91% of GoDaddy worth $153,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sanctuary Advisors LLC boosted its position in shares of GoDaddy by 23.4% during the fourth quarter. Sanctuary Advisors LLC now owns 8,243 shares of the technology company's stock worth $1,023,000 after acquiring an additional 1,561 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in GoDaddy by 15.9% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,328 shares of the technology company's stock valued at $413,000 after purchasing an additional 457 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in GoDaddy by 4.6% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 3,761 shares of the technology company's stock valued at $467,000 after purchasing an additional 166 shares during the last quarter. HB Wealth Management LLC lifted its position in GoDaddy by 22.0% during the fourth quarter. HB Wealth Management LLC now owns 4,603 shares of the technology company's stock valued at $571,000 after purchasing an additional 830 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in GoDaddy by 21.0% during the fourth quarter. Boston Trust Walden Corp now owns 369,175 shares of the technology company's stock valued at $45,807,000 after purchasing an additional 63,951 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays lowered their price objective on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, February 26th. 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 objective for the company. Evercore set a $95.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Citigroup lowered their price objective on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Finally, Cantor Fitzgerald lowered their price objective on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $123.79.

Insider Activity

In other news, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer owned 20,349 shares of the company's stock, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leah Sweet sold 650 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the transaction, the director directly owned 11,414 shares in the company, valued at $991,420.04. This represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,918 shares of company stock worth $5,500,469. Insiders own 0.70% of the company's stock.

GoDaddy Trading Up 1.2%

Shares of GDDY opened at $86.75 on Friday. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $193.55. The company has a market cap of $11.57 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.79 and a beta of 0.98. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The company's fifty day simple moving average is $84.84 and its 200-day simple moving average is $107.03.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts expect that GoDaddy Inc. will post 6.97 EPS for the current year.

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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