BNP Paribas Financial Markets Buys 143,809 Shares of GoDaddy Inc. (NYSE:GDDY)

BNP Paribas Financial Markets boosted its position in GoDaddy Inc. (NYSE:GDDY) by 68.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,260 shares of the technology company’s stock after buying an additional 143,809 shares during the period. BNP Paribas Financial Markets owned approximately 0.25% of GoDaddy worth $55,698,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Avestar Capital LLC grew its position in GoDaddy by 13.4% in the 3rd quarter. Avestar Capital LLC now owns 2,110 shares of the technology company’s stock valued at $331,000 after purchasing an additional 249 shares during the period. Brooklyn Investment Group acquired a new position in GoDaddy during the 3rd quarter valued at about $106,000. Quantbot Technologies LP acquired a new position in GoDaddy during the 3rd quarter valued at about $4,395,000. FMR LLC increased its holdings in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its stake in shares of GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after purchasing an additional 17,021 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,345 shares of company stock valued at $3,897,255. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird lifted their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Raymond James raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Barclays upped their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Benchmark increased their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Price Performance

GDDY opened at $197.85 on Friday. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 15.29 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50-day moving average price of $170.11 and a 200-day moving average price of $155.14. GoDaddy Inc. has a twelve month low of $96.42 and a twelve month high of $202.56.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

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.