UBS Group AG Sells 499,842 Shares of GoDaddy Inc. (NYSE:GDDY)

UBS Group AG lessened its holdings in GoDaddy Inc. (NYSE:GDDY – Get Rating) by 79.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,865 shares of the technology company’s stock after selling 499,842 shares during the quarter. UBS Group AG owned 0.08% of GoDaddy worth $9,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GDDY. Rice Hall James & Associates LLC raised its position in GoDaddy by 49.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 211,463 shares of the technology company’s stock worth $17,699,000 after purchasing an additional 69,944 shares during the period. HighTower Advisors LLC raised its position in GoDaddy by 7.9% in the 1st quarter. HighTower Advisors LLC now owns 16,959 shares of the technology company’s stock worth $1,422,000 after purchasing an additional 1,246 shares during the period. MetLife Investment Management LLC purchased a new position in GoDaddy in the 1st quarter worth $345,000. Rhumbline Advisers increased its position in shares of GoDaddy by 3.2% in the first quarter. Rhumbline Advisers now owns 138,312 shares of the technology company’s stock valued at $11,577,000 after acquiring an additional 4,315 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of GoDaddy by 30.8% in the first quarter. Raymond James Trust N.A. now owns 3,212 shares of the technology company’s stock valued at $269,000 after acquiring an additional 757 shares during the period. Hedge funds and other institutional investors own 97.32% of the company’s stock.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 7,950 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $74.96, for a total value of $595,932.00. Following the transaction, the chief executive officer now owns 280,245 shares in the company, valued at $21,007,165.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Amanpal Singh Bhutani sold 7,950 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $74.96, for a total transaction of $595,932.00. Following the transaction, the chief executive officer now owns 280,245 shares in the company, valued at $21,007,165.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 548 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $74.96, for a total transaction of $41,078.08. Following the transaction, the chief accounting officer now owns 21,153 shares in the company, valued at approximately $1,585,628.88. The disclosure for this sale can be found here. Insiders have sold 21,211 shares of company stock valued at $1,601,336 over the last quarter. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Raymond James boosted their price objective on shares of GoDaddy from $88.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 15th. StockNews.com assumed coverage on shares of GoDaddy in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Benchmark restated a “buy” rating and issued a $100.00 price objective on shares of GoDaddy in a research report on Monday, February 13th. Piper Sandler decreased their price objective on shares of GoDaddy from $88.00 to $84.00 in a research report on Friday, May 5th. Finally, Robert W. Baird initiated coverage on shares of GoDaddy in a research report on Tuesday, April 11th. They issued an “outperform” rating and a $95.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.10.

GoDaddy Price Performance

NYSE:GDDY opened at $72.38 on Wednesday. GoDaddy Inc. has a one year low of $64.65 and a one year high of $85.32. The company’s 50-day simple moving average is $74.35 and its 200 day simple moving average is $75.67. The firm has a market capitalization of $11.18 billion, a P/E ratio of 34.63, a PEG ratio of 2.00 and a beta of 0.98.

GoDaddy (NYSE:GDDY – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.22). GoDaddy had a negative return on equity of 95.00% and a net margin of 8.03%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.41 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that GoDaddy Inc. will post 2.39 earnings per share for the current fiscal year.

GoDaddy Company Profile

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GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.