23,618 GoDaddy Inc. $GDDY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 61.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,025 shares of the technology company’s stock after selling 23,618 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in GoDaddy were worth $1,435,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of GoDaddy during the 3rd quarter valued at about $9,685,000. Vise Technologies Inc. purchased a new position in GoDaddy in the 3rd quarter worth approximately $296,000. Americana Partners LLC purchased a new position in GoDaddy in the 3rd quarter worth approximately $304,000. Parcion Private Wealth LLC grew its position in GoDaddy by 152.0% in the third quarter. Parcion Private Wealth LLC now owns 6,195 shares of the technology company’s stock valued at $592,000 after acquiring an additional 3,737 shares in the last quarter. Finally, Soltis Investment Advisors LLC acquired a new stake in GoDaddy in the third quarter valued at approximately $349,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $114.39 on Friday. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.61. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $133.34. The firm’s 50-day simple moving average is $103.31 and its 200-day simple moving average is $92.40. The firm has a market cap of $14.49 billion, a PE ratio of 15.65 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GDDY. Cantor Fitzgerald lifted their price objective on shares of GoDaddy from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, October 19th. Wedbush decreased their target price on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. UBS Group raised their price target on shares of GoDaddy from $100.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Wells Fargo & Company downgraded shares of GoDaddy from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $80.00 to $76.00 in a research note on Wednesday, August 26th. Finally, Raymond James Financial downgraded 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. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.62.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,261 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $91.81, for a total value of $207,582.41. Following the transaction, the chief accounting officer directly owned 17,734 shares in the company, valued at approximately $1,628,158.54. This trade represents a 11.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark McCaffrey sold 5,873 shares of GoDaddy stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.91, for a total transaction of $592,644.43. Following the completion of the transaction, the chief financial officer directly owned 99,855 shares of the company’s stock, valued at $10,076,368.05. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,358 shares of company stock worth $3,187,756 over the last quarter. 0.93% of the stock is owned by corporate insiders.

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