Sumitomo Mitsui Trust Group Inc. Increases Holdings in GoDaddy Inc. $GDDY

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 384,550 shares of the technology company’s stock after buying an additional 7,360 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.28% of GoDaddy worth $52,618,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CX Institutional raised its holdings in shares of GoDaddy by 13.1% during the 2nd quarter. CX Institutional now owns 577 shares of the technology company’s stock worth $104,000 after acquiring an additional 67 shares during the period. Hemington Wealth Management increased its position in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the last quarter. UMB Bank n.a. raised its stake in GoDaddy by 13.1% during the second quarter. UMB Bank n.a. now owns 795 shares of the technology company’s stock worth $143,000 after purchasing an additional 92 shares during the period. Penserra Capital Management LLC boosted its holdings in GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after purchasing an additional 92 shares during the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after buying an additional 94 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the sale, the director owned 19,957 shares in the company, valued at approximately $2,656,476.27. This trade represents a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,115 shares of company stock valued at $1,809,657 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GDDY shares. Cantor Fitzgerald reduced their price target on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. Morgan Stanley lowered their price target on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday. UBS Group cut their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Jefferies Financial Group reduced their price objective on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

GoDaddy Price Performance

GDDY stock opened at $107.27 on Friday. The business’s fifty day moving average price is $124.58 and its 200 day moving average price is $139.97. GoDaddy Inc. has a 12-month low of $106.70 and a 12-month high of $216.00. The company has a market capitalization of $14.50 billion, a PE ratio of 18.53, a P/E/G ratio of 0.98 and a beta of 0.95. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.GoDaddy’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.