Boussard & Gavaudan Investment Management LLP Takes $1 Million Position in GoDaddy Inc. (NYSE:GDDY)

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of 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 buying an additional 986 shares during the period. Cerity Partners LLC raised its holdings 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 valued at $2,771,000 after acquiring an additional 2,803 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in GoDaddy in the third quarter worth about $233,000. Bank of Montreal Can grew its holdings in GoDaddy by 57.8% during the 3rd quarter. Bank of Montreal Can now owns 213,415 shares of the technology company’s stock worth $33,293,000 after acquiring an additional 78,129 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of GoDaddy by 20.5% in 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 purchasing an additional 15,452 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 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 transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is owned by company insiders.

GoDaddy Price Performance

Shares of GDDY opened at $183.02 on Friday. 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’s fifty day moving average price is $190.24 and its 200-day moving average price is $183.76. GoDaddy Inc. has a 1-year low of $118.39 and a 1-year high of $216.00. The firm has a market capitalization of $25.87 billion, a PE ratio of 28.38 and a beta of 1.25.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GDDY shares. UBS Group increased their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Raymond James upped their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Piper Sandler raised their price objective on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $213.20.

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.