KBC Group NV Sells 23,445 Shares of GoDaddy Inc. (NYSE:GDDY)

KBC Group NV cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 824,286 shares of the technology company’s stock after selling 23,445 shares during the period. KBC Group NV owned approximately 0.59% of GoDaddy worth $162,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy in the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the third quarter worth $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the fourth quarter valued at $43,000. Finally, Friedenthal Financial acquired a new stake in GoDaddy in the 4th quarter valued at $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at $16,776,543. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,483 shares of company stock worth $4,759,553. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.1 %

GDDY opened at $207.44 on Monday. The stock has a fifty day moving average of $200.75 and a 200-day moving average of $173.54. The company has a market capitalization of $29.12 billion, a P/E ratio of 16.03 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $106.42 and a fifty-two week high of $211.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on GDDY shares. Raymond James increased their price target on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup upped their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

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.