Daiwa Securities Group Inc. Sells 2,451 Shares of GoDaddy Inc. (NYSE:GDDY)

Daiwa Securities Group Inc. cut its stake in GoDaddy Inc. (NYSE:GDDY) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,653 shares of the technology company’s stock after selling 2,451 shares during the quarter. Daiwa Securities Group Inc.’s holdings in GoDaddy were worth $5,853,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the fourth quarter worth $43,000. Friedenthal Financial purchased a new stake in GoDaddy in the fourth quarter worth $49,000. Finally, OFI Invest Asset Management purchased a new stake in GoDaddy in the fourth quarter worth $52,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of GDDY stock opened at $174.48 on Thursday. GoDaddy Inc. has a 1-year low of $115.19 and a 1-year high of $216.00. The stock’s 50-day moving average is $194.00 and its 200 day moving average is $182.46. The company has a market cap of $24.66 billion, a P/E ratio of 27.05 and a beta of 1.25. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the completion of the sale, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at approximately $66,300,778.53. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,480 shares of company stock valued at $3,849,169. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on GDDY shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup increased their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company started coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Finally, B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $213.20.

About GoDaddy

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.