Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,160 shares of the technology company’s stock after selling 4,405 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.23% of GoDaddy worth $63,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its stake in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC lifted its position in GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after buying an additional 64 shares during the period. New York Life Investment Management LLC boosted its stake in GoDaddy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after buying an additional 71 shares during the last quarter. Metis Global Partners LLC grew its holdings in GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after buying an additional 74 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of GoDaddy by 13.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Piper Sandler boosted their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Morgan Stanley raised their price objective on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

Shares of GDDY stock opened at $184.00 on Wednesday. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The company has a market capitalization of $26.01 billion, a PE ratio of 28.53 and a beta of 1.25. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm has a fifty day simple moving average of $190.91 and a 200-day simple moving average of $183.77.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). 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 analysts’ expectations of $1.18 billion. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

GoDaddy Company 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.