Meiji Yasuda Asset Management Co Ltd. Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

Meiji Yasuda Asset Management Co Ltd. decreased its stake in GoDaddy Inc. (NYSE:GDDY) by 44.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,935 shares of the technology company’s stock after selling 3,173 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in GoDaddy were worth $550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jump Financial LLC acquired a new position in shares of GoDaddy during the fourth quarter valued at approximately $292,000. Janney Montgomery Scott LLC raised its stake in GoDaddy by 55.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,398 shares of the technology company’s stock valued at $2,272,000 after purchasing an additional 7,646 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in GoDaddy by 50.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,075 shares of the technology company’s stock valued at $326,000 after purchasing an additional 1,034 shares in the last quarter. Balentine LLC acquired a new stake in GoDaddy during the 4th quarter worth $245,000. Finally, Corient Private Wealth LLC grew its holdings in shares of GoDaddy by 70.1% during the fourth quarter. Corient Private Wealth LLC now owns 5,190 shares of the technology company’s stock worth $551,000 after buying an additional 2,138 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 0.2 %

Shares of NYSE GDDY opened at $160.48 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market capitalization of $22.90 billion, a PE ratio of 13.33 and a beta of 1.13. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The stock has a fifty day simple moving average of $154.36 and a 200-day simple moving average of $138.69.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts forecast that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Raymond James increased their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Barclays boosted their price objective on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald began coverage on GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.08.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at $2,232,912.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The disclosure for this sale can be found here. Insiders have sold a total of 31,744 shares of company stock worth $4,816,386 in the last ninety days. 0.61% of the stock is 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.