Mufg Securities Americas Inc. Takes Position in GoDaddy Inc. (NYSE:GDDY)

Mufg Securities Americas Inc. purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,073 shares of the technology company’s stock, valued at approximately $409,000.

Several other hedge funds have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV boosted its position in shares of GoDaddy by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 17,202 shares of the technology company’s stock worth $3,500,000 after purchasing an additional 128 shares during the period. Nomura Holdings Inc. purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $912,000. Nuveen Asset Management LLC boosted its position in shares of GoDaddy by 93.0% during the 4th quarter. Nuveen Asset Management LLC now owns 996,538 shares of the technology company’s stock worth $196,687,000 after purchasing an additional 480,263 shares during the period. OMERS ADMINISTRATION Corp boosted its position in shares of GoDaddy by 21.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 5,661 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 1,004 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of GoDaddy by 7.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,137 shares of the technology company’s stock worth $7,132,000 after purchasing an additional 2,615 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the sale, the chief financial officer now directly owns 77,250 shares in the company, valued at $13,978,387.50. This trade represents a 32.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the sale, the director now owns 22,121 shares in the company, valued at $3,996,379.86. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,500 shares of company stock worth $10,050,555. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of GDDY opened at $189.80 on Friday. GoDaddy Inc. has a twelve month low of $134.63 and a twelve month high of $216.00. The firm’s fifty day simple moving average is $178.11 and its 200-day simple moving average is $188.58. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 29.43 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $2.76 earnings per share. GoDaddy’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GDDY. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. UBS Group increased their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group reduced their target price on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Finally, Piper Sandler increased their target price on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.86.

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.