Mitsubishi UFJ Asset Management Co. Ltd. Has $34.82 Million Stock Position in GoDaddy Inc. $GDDY

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 293,822 shares of the technology company’s stock after purchasing an additional 10,290 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in GoDaddy were worth $34,824,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hemington Wealth Management increased its stake in shares of GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GoDaddy in the 4th quarter valued at $25,000. Rachor Investment Advisory Services LLC acquired a new position in GoDaddy in the 4th quarter valued at $25,000. Activest Wealth Management grew its stake in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in GoDaddy in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $90.93 on Friday. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.61. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.82 and a beta of 0.92. The company’s fifty day moving average is $84.67 and its two-hundred day moving average is $105.79. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $190.50.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. Equities research analysts forecast that GoDaddy Inc. will post 7.17 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Jefferies Financial Group lowered their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Piper Sandler initiated coverage on shares of GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. UBS Group initiated coverage on shares of GoDaddy in a research note on Tuesday. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, Morgan Stanley lowered their target price on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

Insider Activity at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 650 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the sale, the director directly owned 11,414 shares in the company, valued at $991,420.04. This trade represents a 5.39% 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 17,406 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the completion of the sale, the chief financial officer owned 113,003 shares in the company, valued at $10,056,136.97. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,918 shares of company stock valued at $5,500,469. Company insiders own 0.93% of the company’s stock.

About GoDaddy

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.