Sumitomo Mitsui Trust Group Inc. Buys 17,573 Shares of GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 373,257 shares of the technology company's stock after purchasing an additional 17,573 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of GoDaddy worth $58,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of GoDaddy in the third quarter worth $273,000. Apollon Wealth Management LLC grew its position in shares of GoDaddy by 20.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,653 shares of the technology company's stock valued at $416,000 after buying an additional 446 shares during the last quarter. GDS Wealth Management acquired a new stake in shares of GoDaddy in the third quarter valued at about $437,000. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy during the third quarter worth about $27,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in GoDaddy by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 48,881 shares of the technology company's stock valued at $7,664,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the company a "strong-buy" rating in a research report on Friday, August 2nd. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. B. Riley increased their price target on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $171.38.

GoDaddy Stock Down 1.3 %

Shares of NYSE:GDDY traded down $2.34 during midday trading on Friday, hitting $182.95. 1,354,913 shares of the company's stock were exchanged, compared to its average volume of 1,462,919. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 12 month low of $91.68 and a 12 month high of $190.21. The company has a market cap of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. The stock has a 50 day moving average price of $162.10 and a 200-day moving average price of $150.60.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. On average, sell-side analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at $2,783,599.92. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares of the company's stock, valued at $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,844 shares of company stock worth $4,619,397. Corporate insiders own 0.61% of the company's stock.

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.