Boussard & Gavaudan Investment Management LLP Buys New Shares in GoDaddy Inc. (NYSE:GDDY)

Boussard & Gavaudan Investment Management LLP purchased a new position in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,020 shares of the technology company’s stock, valued at approximately $1,001,000.

Several other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in GoDaddy by 18.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,285 shares of the technology company’s stock worth $985,000 after acquiring an additional 986 shares in the last quarter. Cerity Partners LLC boosted its position in shares of GoDaddy by 18.9% in the third quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock worth $2,771,000 after purchasing an additional 2,803 shares during the period. Kingsview Wealth Management LLC purchased a new stake in shares of GoDaddy in the third quarter worth $233,000. Bank of Montreal Can raised its position in shares of GoDaddy by 57.8% during the 3rd quarter. Bank of Montreal Can now owns 213,415 shares of the technology company’s stock valued at $33,293,000 after purchasing an additional 78,129 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of GoDaddy by 20.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 90,810 shares of the technology company’s stock valued at $14,237,000 after buying an additional 15,452 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock valued at $3,816,029 over the last three months. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GDDY. Piper Sandler raised their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Benchmark upped their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup increased their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Seven investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Down 0.0 %

Shares of NYSE:GDDY opened at $183.02 on Friday. The company has a market cap of $25.87 billion, a price-to-earnings ratio of 28.38 and a beta of 1.25. GoDaddy Inc. has a 12 month low of $118.39 and a 12 month high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a 50-day moving average price of $190.24 and a 200 day moving average price of $183.76.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share 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.