Mufg Securities Americas Inc. Buys New Stake in GoDaddy Inc. (NYSE:GDDY)

Mufg Securities Americas Inc. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,073 shares of the technology company’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its position in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the period. OFI Invest Asset Management acquired a new position in GoDaddy during the fourth quarter valued at $52,000. Summit Securities Group LLC acquired a new position in GoDaddy during the fourth quarter valued at $58,000. Physician Wealth Advisors Inc. acquired a new position in GoDaddy during the fourth quarter valued at $67,000. Finally, Global Retirement Partners LLC lifted its position in GoDaddy by 31.1% during the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 93 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the sale, the chief executive officer now owns 505,649 shares of the company’s stock, valued at $91,350,548.34. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the sale, the director now directly owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. This trade represents a 2.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,500 shares of company stock valued at $10,050,555. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.9%

GDDY stock opened at $189.80 on Friday. The stock has a market capitalization of $27.04 billion, a P/E ratio of 29.43 and a beta of 1.13. The firm has a 50-day simple moving average of $178.11 and a 200-day simple moving average of $188.58. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52 week low of $134.63 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned $2.76 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. UBS Group upped their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Jefferies Financial Group decreased their price objective on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 7th. Finally, Piper Sandler upped their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.86.

GoDaddy Company 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.