BNP Paribas Financial Markets Increases Stock Position in GoDaddy Inc. $GDDY

BNP Paribas Financial Markets increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 85.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 894,243 shares of the technology company’s stock after acquiring an additional 411,349 shares during the quarter. BNP Paribas Financial Markets’ holdings in GoDaddy were worth $122,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of GoDaddy by 130.5% in the 3rd quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock worth $20,720,000 after acquiring an additional 85,733 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after acquiring an additional 10,631 shares during the period. GDS Wealth Management raised its holdings in GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after purchasing an additional 8,388 shares in the last quarter. Neo Ivy Capital Management purchased a new position in GoDaddy during the second quarter worth about $470,000. Finally, Quantbot Technologies LP acquired a new stake in GoDaddy in the second quarter valued at about $15,659,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock opened at $86.57 on Thursday. The firm has a market capitalization of $11.54 billion, a PE ratio of 13.89, a P/E/G ratio of 0.82 and a beta of 0.96. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The firm’s 50-day simple moving average is $99.07 and its 200 day simple moving average is $121.73. 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 (NYSE:GDDY) last posted its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. On average, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 1,310 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value 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. This trade represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 61,918 shares of company stock valued at $5,500,469. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Barclays reduced their price target on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. Morgan Stanley dropped their price objective on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Wells Fargo & Company reduced their target price on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.93.

GoDaddy 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.