Union Bancaire Privee UBP SA Cuts Stake in GoDaddy Inc. (NYSE:GDDY)

Union Bancaire Privee UBP SA lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 98.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 769 shares of the technology company's stock after selling 40,656 shares during the period. Union Bancaire Privee UBP SA's holdings in GoDaddy were worth $144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GDDY. Rakuten Securities Inc. boosted its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares in the last quarter. City Holding Co. raised its stake in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the last quarter. OFI Invest Asset Management bought a new position in GoDaddy during the fourth quarter worth $52,000. Summit Securities Group LLC bought a new position in GoDaddy during the fourth quarter worth $58,000. Finally, Physician Wealth Advisors Inc. bought a new stake in GoDaddy in the fourth quarter valued at $67,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Down 1.2%

GoDaddy stock traded down $2.20 during midday trading on Friday, hitting $175.57. 1,271,912 shares of the stock were exchanged, compared to its average volume of 1,479,429. GoDaddy Inc. has a 52-week low of $135.73 and a 52-week high of $216.00. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 27.22 and a beta of 1.07. The business's 50-day moving average price is $180.22 and its 200-day moving average price is $188.71. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the firm posted $2.76 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of several research analyst reports. Citigroup decreased their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group decreased their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. boosted their target price 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. Royal Bank of Canada decreased their target price on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Barclays decreased their target price on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Seven equities research 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's stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $190.86, for a total value of $572,580.00. Following the sale, the chief executive officer now owns 440,947 shares of the company's stock, valued at $84,159,144.42. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $89,925.00. Following the completion of the sale, the director now directly owns 21,621 shares in the company, valued at approximately $3,888,536.85. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,632 shares of company stock worth $12,426,675 over the last three months. 0.61% of the stock is currently owned by insiders.

About GoDaddy

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.