BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 15,718 Shares of GoDaddy Inc. (NYSE:GDDY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 23.1% during the third quarter, Holdings Channel.com reports. The fund owned 52,342 shares of the technology company’s stock after selling 15,718 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in GoDaddy were worth $8,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of GoDaddy during the 3rd quarter worth $1,132,000. Plato Investment Management Ltd boosted its stake in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after buying an additional 6,227 shares in the last quarter. Swedbank AB grew its position in GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 9,631 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Raymond James upped their price target 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. Benchmark raised their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.31.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Up 1.7 %

GDDY opened at $196.35 on Monday. The stock has a market cap of $27.57 billion, a PE ratio of 15.17 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. GoDaddy Inc. has a twelve month low of $94.50 and a twelve month high of $196.71. The company has a fifty day moving average of $166.62 and a 200-day moving average of $153.46.

GoDaddy (NYSE:GDDY) last posted 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 return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict 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.