GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 373,257 shares of the technology company’s stock after purchasing an additional 17,573 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of GoDaddy worth $58,519,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GDDY. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares in the last quarter. Whittier Trust Co. boosted its position in GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its holdings in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares during the last quarter. Equitable Trust Co. increased its position in shares of GoDaddy by 1.3% in the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of GoDaddy by 22.4% during the 3rd quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,844 shares of company stock valued at $4,619,397 over the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GDDY. B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird lifted their price objective on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark upped their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Five equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Stock Performance

GoDaddy stock opened at $185.28 on Friday. GoDaddy Inc. has a 52 week low of $90.42 and a 52 week high of $190.21. 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 stock has a market cap of $26.01 billion, a P/E ratio of 14.32 and a beta of 1.11. The stock has a 50 day moving average of $161.46 and a 200-day moving average of $150.36.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. 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 business earned $0.89 EPS. On average, analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

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.