National Bank of Canada FI Has $12.97 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

National Bank of Canada FI lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 53.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,709 shares of the technology company's stock after selling 74,420 shares during the period. National Bank of Canada FI's holdings in GoDaddy were worth $12,969,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. boosted its holdings in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial acquired a new stake in GoDaddy in the fourth quarter valued at approximately $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at approximately $20,750,193.75. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the sale, the chief operating officer now owns 183,632 shares of the company's stock, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock worth $3,546,970. Company insiders own 0.61% of the company's stock.

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GoDaddy Price Performance

GDDY stock traded down $6.20 during trading hours on Thursday, hitting $167.92. 412,879 shares of the stock traded hands, compared to its average volume of 1,538,054. GoDaddy Inc. has a one year low of $119.76 and a one year high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a market cap of $23.74 billion, a P/E ratio of 26.05 and a beta of 1.19. The stock has a 50-day simple moving average of $182.49 and a 200 day simple moving average of $185.15.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GDDY shares. Wells Fargo & Company began coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target for the company. Jefferies Financial Group dropped their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday. Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Citigroup raised their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $212.20.

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.