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

KBC Group NV trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 824,286 shares of the technology company’s stock after selling 23,445 shares during the period. KBC Group NV’s holdings in GoDaddy were worth $162,689,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its position in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. Geode Capital Management LLC raised its holdings in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after buying an additional 84,550 shares during the last quarter. FMR LLC boosted its position in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in GoDaddy by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after acquiring an additional 203,909 shares during the last quarter. Finally, Fiera Capital Corp increased its position in GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after acquiring an additional 13,206 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GDDY. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Raymond James upped 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. Benchmark increased their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Citigroup lifted their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.07.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,483 shares of company stock valued at $4,759,553. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $207.44 on Monday. 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 $106.42 and a twelve month high of $211.11. The company has a fifty day moving average of $200.75 and a 200-day moving average of $173.54. The firm has a market capitalization of $29.12 billion, a P/E ratio of 16.03 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current year.

GoDaddy 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.