GoDaddy Inc. $GDDY Stock Position Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in GoDaddy Inc. (NYSE:GDDY) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 293,822 shares of the technology company’s stock after acquiring an additional 10,290 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.22% of GoDaddy worth $34,824,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of GoDaddy by 2.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,678 shares of the technology company’s stock valued at $2,690,000 after acquiring an additional 431 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of GoDaddy by 3.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 42,880 shares of the technology company’s stock valued at $5,319,000 after acquiring an additional 1,450 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in shares of GoDaddy in the 4th quarter valued at approximately $74,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of GoDaddy in the 4th quarter valued at approximately $41,377,000. Finally, Fifth Third Bancorp lifted its position in shares of GoDaddy by 74.7% in the 4th quarter. Fifth Third Bancorp now owns 2,418 shares of the technology company’s stock valued at $300,000 after acquiring an additional 1,034 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares in the company, valued at $1,834,462.35. This represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director owned 11,414 shares in the company, valued at approximately $991,420.04. This trade represents a 5.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,918 shares of company stock worth $5,500,469. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Royal Bank Of Canada cut their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Piper Sandler assumed coverage on shares of GoDaddy in a research report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price for the company. Finally, Citigroup cut their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Stock Up 1.3%

GDDY stock opened at $90.93 on Friday. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $190.50. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.82 and a beta of 0.92. The company has a 50 day moving average of $84.67 and a two-hundred day moving average of $105.79.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.