Mitsubishi UFJ Asset Management Co. Ltd. Buys 21,009 Shares of GoDaddy Inc. (NYSE:GDDY)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,115 shares of the technology company’s stock after buying an additional 21,009 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in GoDaddy were worth $44,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC grew its holdings 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 acquiring an additional 53 shares during the period. Lake Street Advisors Group LLC grew its position in shares of GoDaddy by 4.7% in the 4th 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 increased its stake in shares of 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 acquiring an additional 71 shares in the last quarter. Metis Global Partners LLC lifted its position in GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after acquiring an additional 74 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in GoDaddy by 13.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after acquiring an additional 88 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. UBS Group boosted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Performance

GDDY stock opened at $178.89 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00. The company has a market cap of $25.29 billion, a P/E ratio of 27.73 and a beta of 1.25. The stock’s fifty day moving average price is $189.80 and its 200-day moving average price is $184.18.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on 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 in the company, valued at $4,601,310.21. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the completion of the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is owned by company insiders.

About GoDaddy

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.