KBC Group NV Sells 38,974 Shares of GoDaddy Inc. (NYSE:GDDY)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares during the period. Whittier Trust Co. raised its stake in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC grew its position in GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after purchasing an additional 99 shares during the last quarter. Finally, Equitable Trust Co. grew its position in GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 107 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GDDY has been the subject of several research reports. Benchmark increased their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Stock Up 0.8 %

Shares of GoDaddy stock opened at $188.75 on Thursday. GoDaddy Inc. has a 52-week low of $88.93 and a 52-week high of $190.21. 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 business’s 50 day simple moving average is $161.46 and its 200 day simple moving average is $150.36. The firm has a market cap of $26.50 billion, a PE ratio of 14.59 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. On average, analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares in the company, valued at $4,317,659. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock worth $4,619,397 in the last three months. Insiders own 0.61% of the company’s stock.

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.