GoDaddy Inc. (NYSE:GDDY) Stake Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,547 shares of the technology company’s stock after acquiring an additional 450 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GoDaddy were worth $3,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its holdings in shares of GoDaddy by 10.9% in the 2nd quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after buying an additional 1,764 shares during the period. Atomi Financial Group Inc. lifted its holdings in GoDaddy by 7.6% in the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock worth $292,000 after acquiring an additional 131 shares during the last quarter. CWM LLC boosted its stake in GoDaddy by 2.7% in the third quarter. CWM LLC now owns 6,034 shares of the technology company’s stock valued at $946,000 after acquiring an additional 159 shares during the period. Ritholtz Wealth Management grew its holdings in shares of GoDaddy by 19.4% during the third quarter. Ritholtz Wealth Management now owns 12,380 shares of the technology company’s stock valued at $1,941,000 after purchasing an additional 2,012 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the third quarter valued at approximately $30,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.1 %

GDDY opened at $211.14 on Monday. The stock’s fifty day moving average is $204.17 and its 200-day moving average is $178.19. GoDaddy Inc. has a one year low of $107.92 and a one year high of $216.00. The company has a market capitalization of $29.64 billion, a PE ratio of 16.32 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction 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 in the company, valued at $34,119,161.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now directly owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,483 shares of company stock worth $4,893,633. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GDDY shares. Raymond James boosted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley increased their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.53.

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.