Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in GoDaddy Inc. (NYSE:GDDY) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,547 shares of the technology company’s stock after purchasing an additional 450 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GoDaddy were worth $3,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy in the third quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy in the 3rd quarter worth about $30,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy during the 4th quarter valued at about $43,000. Finally, Friedenthal Financial acquired a new position in shares of GoDaddy during the 4th quarter valued at about $49,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Up 0.1 %

Shares of NYSE:GDDY opened at $211.14 on Monday. The company has a 50 day moving average of $204.17 and a two-hundred day moving average of $178.19. GoDaddy Inc. has a 52-week low of $107.92 and a 52-week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 16.32 and a beta of 1.15.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $98,885.00. Following the transaction, the director now owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,483 shares of company stock valued at $4,893,633. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $198.53.

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.