Mirae Asset Global Investments Co. Ltd. Makes New Investment in GoDaddy Inc. $GDDY

Mirae Asset Global Investments Co. Ltd. acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 101,407 shares of the technology company’s stock, valued at approximately $9,685,000. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of GoDaddy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of GDDY. Motley Fool Asset Management LLC grew its holdings in shares of GoDaddy by 2.5% during the third quarter. Motley Fool Asset Management LLC now owns 4,073 shares of the technology company’s stock worth $389,000 after purchasing an additional 98 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of GoDaddy by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 4,318 shares of the technology company’s stock valued at $357,000 after buying an additional 147 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of GoDaddy by 93.8% in the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after buying an additional 180 shares during the last quarter. Mather Group LLC. lifted its position in GoDaddy by 34.7% during the 3rd quarter. Mather Group LLC. now owns 811 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in GoDaddy by 24.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,072 shares of the technology company’s stock worth $91,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Up 4.6%

Shares of NYSE GDDY opened at $118.65 on Thursday. The company’s 50 day simple moving average is $102.46 and its 200 day simple moving average is $92.26. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $135.71. The firm has a market capitalization of $15.03 billion, a P/E ratio of 16.23 and a beta of 0.94. The company has a debt-to-equity ratio of 561.10, a current ratio of 0.61 and a quick ratio of 0.63.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 29th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.18. GoDaddy had a net margin of 18.56% and a return on equity of 1,200.87%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $1.51 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that GoDaddy Inc. will post 7.48 EPS for the current year.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 2,261 shares of GoDaddy stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $91.81, for a total transaction of $207,582.41. Following the completion of the sale, the chief accounting officer directly owned 17,734 shares of the company’s stock, valued at $1,628,158.54. The trade was a 11.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.44, for a total value of $34,104.00. Following the completion of the sale, the director owned 8,283 shares of the company’s stock, valued at $807,095.52. This represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,358 shares of company stock worth $3,187,756 over the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company cut shares of GoDaddy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $80.00 to $76.00 in a research report on Wednesday, August 26th. Weiss Ratings upgraded shares of GoDaddy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Raymond James Financial cut shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 price target on the stock. in a research note on Friday, July 31st. Robert W. Baird raised their price target on shares of GoDaddy from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $95.00 price objective (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GoDaddy has an average rating of “Hold” and a consensus target price of $113.62.

About GoDaddy

GoDaddy Inc (NYSE: GDDY) is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.

The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.