Nomura Asset Management Co. Ltd. Buys 19,950 Shares of GoDaddy Inc. (NYSE:GDDY)

Nomura Asset Management Co. Ltd. lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 31.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,586 shares of the technology company's stock after purchasing an additional 19,950 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.06% of GoDaddy worth $12,948,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GDDY. Ashton Thomas Securities LLC bought a new position in GoDaddy in the 3rd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the second quarter worth about $28,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the third quarter worth about $30,000. ORG Partners LLC bought a new position in shares of GoDaddy in the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC purchased a new stake in GoDaddy in the second quarter valued at approximately $36,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Up 0.3 %

Shares of GDDY traded up $0.57 during mid-day trading on Thursday, hitting $208.91. 855,544 shares of the company's stock traded hands, compared to its average volume of 1,462,994. The business's 50-day moving average price is $178.53 and its 200-day moving average price is $159.48. GoDaddy Inc. has a 1 year low of $99.90 and a 1 year high of $210.30. The firm has a market capitalization of $29.33 billion, a P/E ratio of 16.16 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. As a group, sell-side analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GDDY shares. StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Royal Bank of Canada restated an "outperform" rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $181.57.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company's stock, valued at $4,317,659. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,503 shares of company stock worth $4,102,853 over the last three months. Company 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.