Union Bancaire Privee UBP SA Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Union Bancaire Privee UBP SA reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 98.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 769 shares of the technology company’s stock after selling 40,656 shares during the period. Union Bancaire Privee UBP SA’s holdings in GoDaddy were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock worth $751,778,000 after purchasing an additional 395,160 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock worth $692,245,000 after purchasing an additional 90,810 shares in the last quarter. Invesco Ltd. boosted its position in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock worth $575,122,000 after purchasing an additional 304,033 shares in the last quarter. Norges Bank purchased a new stake in shares of GoDaddy during the 4th quarter worth $356,038,000. Finally, Northern Trust Corp boosted its position in shares of GoDaddy by 8.8% during the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company’s stock worth $282,275,000 after purchasing an additional 115,341 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on GDDY shares. Royal Bank of Canada decreased their price objective on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Barclays decreased their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Benchmark reiterated a “buy” rating on shares of GoDaddy in a research report on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Citigroup decreased their price objective on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $214.86.

Insider Activity

In related news, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the sale, the chief accounting officer now owns 21,198 shares of the company’s stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $89,925.00. Following the sale, the director now directly owns 21,621 shares of the company’s stock, valued at approximately $3,888,536.85. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,632 shares of company stock valued at $12,426,675 in the last 90 days. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 1.2%

NYSE GDDY opened at $175.57 on Friday. GoDaddy Inc. has a 12 month low of $135.73 and a 12 month high of $216.00. The company has a 50-day moving average of $179.95 and a 200-day moving average of $188.94. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market cap of $25.02 billion, a P/E ratio of 27.22 and a beta of 1.07.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $2.76 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share 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.