GoDaddy Inc. $GDDY Shares Sold by KBC Group NV

KBC Group NV lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 59.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,557 shares of the technology company’s stock after selling 45,897 shares during the quarter. KBC Group NV’s holdings in GoDaddy were worth $2,609,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GoDaddy in the 4th quarter valued at about $25,000. Rachor Investment Advisory Services LLC purchased a new stake in shares of GoDaddy during the fourth quarter worth about $25,000. Activest Wealth Management increased its position in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of GoDaddy by 93.8% in the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Trading Up 6.2%

Shares of NYSE:GDDY opened at $93.08 on Friday. GoDaddy Inc. has a twelve month low of $71.59 and a twelve month high of $168.13. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm has a market cap of $12.32 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.79 and a beta of 0.89. The company has a 50 day moving average of $86.03 and a 200-day moving average of $89.47.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 earnings per share. As a group, analysts anticipate that GoDaddy Inc. will post 7.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GDDY. UBS Group began coverage on GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. JPMorgan Chase & Co. reduced their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Benchmark decreased their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.43.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the transaction, the chief executive officer owned 521,747 shares in the company, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the sale, the director owned 5,708 shares in the company, valued at $501,390.72. The trade was a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,751 shares of company stock valued at $1,480,228 in the last quarter. Company insiders own 0.93% of the company’s stock.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Several recent articles highlight GoDaddy’s valuation as potentially attractive after its sharp pullback, with some coverage arguing the stock may be mispriced and pointing to improving long-term fundamentals. GoDaddy (NYSE:GDDY) Looks Mispriced After Its Steep Drop
• Positive Sentiment: Investor interest is also being supported by expectations for upcoming earnings, with some analysts still projecting revenue and earnings growth ahead of GoDaddy’s next report. GoDaddy (GDDY) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: GoDaddy has also drawn attention for its developer-platform push, which some articles frame as a potential catalyst if the strategy expands the company’s growth opportunities. GoDaddy’s Pricing Misstep and Developer Push Could Be A Game Changer For GoDaddy (GDDY)
• Neutral Sentiment: GoDaddy released its quarterly results recently, and the company previously beat analyst estimates on earnings and revenue, which continues to anchor investor expectations heading into the next report. GoDaddy (GDDY) Launches Developer Platform As Fair Value Narrative Stays In Focus
• Negative Sentiment: Multiple law firms, including Rosen Law Firm and Kaplan Fox & Kilsheimer, announced or reiterated investigations into possible securities-law violations and potentially misleading disclosures at GoDaddy, increasing legal overhang and uncertainty for shareholders. ROSEN, TRUSTED INVESTOR COUNSEL, Encourages GoDaddy Inc. Investors to Inquire About Securities Class Action Investigation – GDDY

GoDaddy Company 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.