KBC Group NV Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

KBC Group NV decreased its position in GoDaddy Inc. (NYSE:GDDY) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 847,731 shares of the technology company’s stock after selling 38,974 shares during the quarter. KBC Group NV owned about 0.60% of GoDaddy worth $132,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in GoDaddy by 13.1% during the first quarter. Sei Investments Co. now owns 176,053 shares of the technology company’s stock worth $20,894,000 after purchasing an additional 20,347 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of GoDaddy in the first quarter valued at about $1,175,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of GoDaddy by 20.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,554 shares of the technology company’s stock valued at $8,967,000 after buying an additional 12,651 shares during the period. Glaxis Capital Management LLC acquired a new position in GoDaddy during the 1st quarter worth approximately $237,000. Finally, Cumberland Partners Ltd purchased a new position in GoDaddy in the 1st quarter worth approximately $1,187,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James boosted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their target price on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.38.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Up 0.8 %

GDDY opened at $188.75 on Thursday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $26.50 billion, a PE ratio of 14.59 and a beta of 1.11. The stock’s fifty day moving average is $161.46 and its 200-day moving average is $150.36. GoDaddy Inc. has a one year low of $88.93 and a one year high of $190.21.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.89 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

GoDaddy Company 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.