GoDaddy Inc. $GDDY Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 33.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,682 shares of the technology company’s stock after selling 11,073 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in GoDaddy were worth $2,967,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hemington Wealth Management boosted its stake in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after acquiring an additional 85 shares during the last quarter. Bayforest Capital Ltd purchased a new position in GoDaddy in the 2nd quarter valued at about $26,000. NewSquare Capital LLC lifted its holdings in GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Finally, Mather Group LLC. purchased a new stake in shares of GoDaddy during the third quarter worth about $61,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GDDY shares. Evercore ISI reduced their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, October 31st. Morgan Stanley cut their price target on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Benchmark restated a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. B. Riley lowered their price objective on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. reduced their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average price target of $166.21.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. The trade was a 12.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,615 shares of company stock valued at $1,743,102 over the last three months. 0.70% of the stock is owned by insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $100.10 on Tuesday. The firm’s fifty day simple moving average is $118.57 and its 200 day simple moving average is $133.54. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a twelve month low of $98.28 and a twelve month high of $214.76. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.91 and a beta of 0.94.

GoDaddy Company 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.