Sumitomo Mitsui DS Asset Management Company Ltd Has $2.52 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 25.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,030 shares of the technology company’s stock after purchasing an additional 3,683 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GoDaddy were worth $2,519,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GDDY. Fiera Capital Corp grew its position in shares of GoDaddy by 1.3% in the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock valued at $87,914,000 after acquiring an additional 10,312 shares during the period. Plato Investment Management Ltd increased its position in GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after buying an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares during the period. Forsta AP Fonden lifted its position in shares of GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after buying an additional 39,200 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock in a transaction on Friday, June 7th. The shares were sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the transaction, the chief executive officer now owns 369,898 shares in the company, valued at $51,386,230.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,913 shares of company stock valued at $7,416,831. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Up 1.5 %

NYSE GDDY opened at $167.41 on Friday. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The stock has a market capitalization of $23.89 billion, a PE ratio of 13.90 and a beta of 1.14. The business has a fifty day moving average price of $150.52 and a two-hundred day moving average price of $134.23.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. Equities analysts expect that GoDaddy Inc. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. UBS Group upped their price target on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Benchmark increased their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 26th. B. Riley boosted their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.58.

GoDaddy 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.