Sumitomo Mitsui Trust Group Inc. Has $28.07 Million Stake in GoDaddy Inc. $GDDY

Sumitomo Mitsui Trust Group Inc. reduced its position in GoDaddy Inc. (NYSE:GDDY) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,557 shares of the technology company’s stock after selling 18,997 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of GoDaddy worth $28,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. lifted its stake in shares of GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after buying an additional 1,128,646 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of GoDaddy by 11.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock worth $399,089,000 after acquiring an additional 319,515 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after acquiring an additional 1,615,005 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of GoDaddy by 2.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company’s stock worth $350,077,000 after acquiring an additional 56,086 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in GoDaddy by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,733,028 shares of the technology company’s stock valued at $339,116,000 after acquiring an additional 235,981 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 542 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the transaction, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $355,665.88. Following the transaction, the chief financial officer owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. The trade was a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,751 shares of company stock worth $1,480,228 over the last 90 days. Company insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GDDY shares. Benchmark cut their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. JPMorgan Chase & Co. cut their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. Wells Fargo & Company upped their price target on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, UBS Group initiated coverage on GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.43.

GoDaddy Price Performance

GoDaddy stock opened at $90.84 on Tuesday. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $171.42. The company’s 50 day moving average price is $85.14 and its two-hundred day moving average price is $91.30. The stock has a market cap of $12.03 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.80 and a beta of 0.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 7.13 earnings per share for the current year.

GoDaddy 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.