Asset Management One Co. Ltd. Grows Stock Position in GoDaddy Inc. (NYSE:GDDY)

Asset Management One Co. Ltd. increased its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,673 shares of the technology company's stock after buying an additional 2,915 shares during the period. Asset Management One Co. Ltd. owned 0.06% of GoDaddy worth $16,413,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after purchasing an additional 147,105 shares during the period. Geode Capital Management LLC raised its position in GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock valued at $535,153,000 after purchasing an additional 84,550 shares during the period. WCM Investment Management LLC raised its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. FMR LLC raised its holdings in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after buying an additional 274,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock worth $214,584,000 after buying an additional 203,909 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GDDY. Raymond James increased their price target on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Finally, Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $213.20.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the firm'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 $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares in the company, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the transaction, the chief executive officer now owns 342,956 shares of the company's stock, valued at $67,826,408.12. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,482 shares of company stock valued at $4,709,650 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Down 2.6 %

Shares of GoDaddy stock traded down $4.63 during trading on Wednesday, reaching $176.45. The company's stock had a trading volume of 2,040,325 shares, compared to its average volume of 1,318,012. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company has a market cap of $24.77 billion, a price-to-earnings ratio of 27.36 and a beta of 1.15. GoDaddy Inc. has a 1-year low of $108.02 and a 1-year high of $216.00. The company has a 50-day simple moving average of $203.78 and a two-hundred day simple moving average of $180.59.

GoDaddy (NYSE:GDDY - Get Free Report) 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). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, equities analysts forecast that GoDaddy Inc. will post 6.69 earnings per share for the current year.

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.