Resona Asset Management Co. Ltd. Takes $12.45 Million Position in GoDaddy Inc. (NYSE:GDDY)

Resona Asset Management Co. Ltd. bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 62,919 shares of the technology company's stock, valued at approximately $12,452,000.

Several other hedge funds have also made changes to their positions in GDDY. Quent Capital LLC raised its holdings in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after purchasing an additional 53 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of GoDaddy by 4.7% during 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 in the last quarter. New York Life Investment Management LLC lifted its holdings 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 valued at $3,708,000 after buying an additional 71 shares during the period. Metis Global Partners LLC boosted its stake in shares of GoDaddy by 1.1% in the fourth quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock valued at $1,294,000 after buying an additional 74 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings 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 during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

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GoDaddy Trading Up 0.6 %

GDDY stock traded up $0.95 during midday trading on Friday, reaching $169.95. 609,318 shares of the company's stock traded hands, compared to its average volume of 1,448,381. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. The business has a 50-day moving average price of $181.63 and a two-hundred day moving average price of $185.24. The company has a market capitalization of $24.02 billion, a P/E ratio of 26.40 and a beta of 1.19. 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 (NYSE:GDDY - Get Free Report) last released its quarterly earnings results 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. Equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Morgan Stanley boosted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Jefferies Financial Group dropped their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday. Finally, UBS Group boosted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $212.20.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at $20,750,193.75. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at $36,831,070.24. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,546,970. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy 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.