Sumitomo Mitsui DS Asset Management Company Ltd Purchases 67 Shares of GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in GoDaddy Inc. (NYSE:GDDY) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,097 shares of the technology company’s stock after acquiring an additional 67 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GoDaddy were worth $2,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of GoDaddy during the 1st quarter worth approximately $75,855,000. Federated Hermes Inc. increased its holdings in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the transaction, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the sale, the chief operating officer now owns 188,632 shares in the company, valued at approximately $27,630,815.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,744 shares of company stock worth $5,114,931. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $164.70 on Monday. The business has a fifty day moving average price of $159.14 and a two-hundred day moving average price of $144.78. The stock has a market capitalization of $23.50 billion, a PE ratio of 13.68 and a beta of 1.12. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts predict that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Raymond James upped their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, B. Riley increased their target price on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $166.54.

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.