BNP Paribas Financial Markets Boosts Stake in GoDaddy Inc. $GDDY

BNP Paribas Financial Markets boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 85.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 894,243 shares of the technology company’s stock after purchasing an additional 411,349 shares during the period. BNP Paribas Financial Markets owned about 0.66% of GoDaddy worth $122,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management boosted its position in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the period. Root Financial Partners LLC purchased a new stake in shares of GoDaddy in the 3rd quarter valued at $31,000. Rossby Financial LCC raised its holdings in shares of GoDaddy by 125.4% in the 3rd quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock valued at $38,000 after buying an additional 158 shares during the period. Bayforest Capital Ltd lifted its stake in GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after acquiring an additional 208 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in GoDaddy during the 2nd quarter valued at about $66,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $86.57 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The firm’s 50 day moving average is $99.07 and its two-hundred day moving average is $121.73. The firm has a market capitalization of $11.54 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.82 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.22. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 EPS. Research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the sale, the chief financial officer owned 113,003 shares in the company, valued at approximately $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 1,310 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer directly owned 20,349 shares of the company’s stock, valued at approximately $1,834,462.35. This trade represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,918 shares of company stock valued at $5,500,469 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GDDY. Jefferies Financial Group dropped their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. 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 note on Wednesday, February 25th. Barclays dropped their price objective on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Benchmark cut their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.93.

About GoDaddy

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.