Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui Trust Group Inc. lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,263 shares of the technology company’s stock after selling 6,994 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GoDaddy were worth $72,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in GoDaddy during the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy during the third quarter valued at approximately $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the fourth quarter worth $43,000. Finally, Huntington National Bank raised its holdings in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GDDY. Jefferies Financial Group raised their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company began coverage on GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Citigroup upped their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $198.53.

GoDaddy Stock Up 0.1 %

NYSE:GDDY opened at $211.14 on Monday. GoDaddy Inc. has a 1-year low of $107.92 and a 1-year high of $216.00. The company has a market capitalization of $29.64 billion, a PE ratio of 16.32 and a beta of 1.15. The firm’s 50-day moving average price is $204.17 and its 200-day moving average price is $178.19. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the sale, the director now directly owns 23,621 shares of the company’s stock, valued at approximately $4,671,525.17. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,483 shares of company stock worth $4,893,633. 0.61% of the stock is currently owned by company insiders.

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.