BNP Paribas Financial Markets Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

BNP Paribas Financial Markets trimmed its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 352,484 shares of the technology company's stock after selling 2,776 shares during the period. BNP Paribas Financial Markets owned about 0.25% of GoDaddy worth $69,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GDDY. Quent Capital LLC grew its holdings in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after purchasing an additional 53 shares during the period. Advisors Capital Management LLC raised its position in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after acquiring an additional 55 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock valued at $283,000 after purchasing an additional 64 shares during the period. New York Life Investment Management LLC grew its stake in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after acquiring an additional 71 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in GoDaddy by 4.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock worth $344,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 37,500 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the transaction, the chief financial officer now owns 77,250 shares in the company, valued at $13,978,387.50. This represents a 32.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares in the company, valued at approximately $3,996,379.86. This trade represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,500 shares of company stock worth $10,244,835 over the last three months. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GDDY shares. Citigroup dropped their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Barclays lowered their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company started coverage on GoDaddy in a research note on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $214.86.

GoDaddy Price Performance

GDDY traded up $2.97 during trading on Monday, reaching $185.57. 437,041 shares of the company traded hands, compared to its average volume of 1,471,697. The firm has a fifty day simple moving average of $177.00 and a 200 day simple moving average of $188.20. GoDaddy Inc. has a 12-month low of $131.84 and a 12-month high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market cap of $26.23 billion, a P/E ratio of 28.76 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS 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 period in the previous year, the firm earned $2.76 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

GoDaddy 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.