Sumitomo Mitsui Trust Group Inc. Raises Stake in GoDaddy Inc. $GDDY

Sumitomo Mitsui Trust Group Inc. boosted its position in GoDaddy Inc. (NYSE:GDDY) by 4.6% during the second quarter, HoldingsChannel reports. The fund owned 377,190 shares of the technology company’s stock after buying an additional 16,556 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in GoDaddy were worth $67,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its stake in GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Bayforest Capital Ltd bought a new stake in GoDaddy in the 2nd quarter valued at about $26,000. Park Square Financial Group LLC bought a new stake in GoDaddy in the 1st quarter valued at about $27,000. Private Trust Co. NA raised its stake in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Finally, Zions Bancorporation National Association UT bought a new stake in GoDaddy in the 1st quarter valued at about $30,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Down 1.1%

Shares of NYSE GDDY opened at $130.92 on Monday. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.41 and a beta of 0.98. The business has a 50-day moving average of $140.63 and a 200-day moving average of $162.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 12 month low of $127.65 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.GoDaddy’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of GoDaddy in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Piper Sandler set a $182.00 price target on GoDaddy and gave the company an “overweight” rating in a research report on Friday, August 8th. Raymond James Financial decreased their price target on GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 8th. Finally, UBS Group decreased their price target on GoDaddy from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $199.00.

Insider Activity

In other news, CFO Mark Mccaffrey sold 3,326 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the sale, the chief financial officer owned 70,133 shares of the company’s stock, valued at approximately $9,973,613.93. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 777 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $110,497.17. Following the transaction, the chief accounting officer owned 20,421 shares of the company’s stock, valued at approximately $2,904,070.41. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,203 shares of company stock valued at $4,031,238. Corporate insiders own 0.70% of the company’s stock.

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.