Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 10.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 220,115 shares of the technology company’s stock after acquiring an additional 21,009 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of GoDaddy worth $44,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter worth about $43,000. Rakuten Securities Inc. grew its holdings in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial bought a new stake in shares of GoDaddy during the fourth quarter valued at about $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy in the fourth quarter worth about $52,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of analyst reports. Barclays upped their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective on the stock. UBS Group boosted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Piper Sandler boosted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $178.89 on Friday. The company’s fifty day moving average is $189.80 and its 200 day moving average is $184.18. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52 week low of $118.39 and a 52 week high of $216.00. The stock has a market cap of $25.29 billion, a PE ratio of 27.73 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its earnings results 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). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the transaction, the chief executive officer now owns 333,153 shares in the company, valued at approximately $66,300,778.53. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now 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. Over the last 90 days, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is currently owned by 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.