Tokio Marine Asset Management Co. Ltd. Increases Holdings in GoDaddy Inc. (NYSE:GDDY)

Tokio Marine Asset Management Co. Ltd. raised its position in GoDaddy Inc. (NYSE:GDDY) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,434 shares of the technology company’s stock after buying an additional 200 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in GoDaddy were worth $1,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the 3rd quarter valued at about $30,000. Anchor Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy in the 4th quarter valued at about $43,000. Finally, Huntington National Bank raised its stake in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

NYSE:GDDY opened at $212.65 on Tuesday. GoDaddy Inc. has a 1 year low of $107.47 and a 1 year high of $216.00. The firm’s fifty day simple moving average is $202.89 and its 200 day simple moving average is $175.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market capitalization of $29.85 billion, a PE ratio of 16.43 and a beta of 1.15.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the sale, the chief financial officer now owns 83,254 shares in the company, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,483 shares of company stock worth $4,256,183. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GDDY. Morgan Stanley upped their target price on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.07.

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.