Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in GoDaddy Inc. $GDDY

Sumitomo Mitsui Trust Group Inc. cut its position in GoDaddy Inc. (NYSE:GDDY) by 5.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 339,557 shares of the technology company’s stock after selling 18,997 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GoDaddy were worth $28,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GDDY. Rachor Investment Advisory Services LLC purchased a new stake in GoDaddy in the 4th quarter worth about $25,000. Activest Wealth Management raised its position in shares of GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GoDaddy during the 4th quarter valued at approximately $25,000. Brown Brothers Harriman & Co. lifted its stake in shares of GoDaddy by 145.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after buying an additional 150 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director directly owned 5,708 shares in the company, valued at $501,390.72. The trade was a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,500 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the transaction, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. This represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,751 shares of company stock worth $1,480,228 over the last three months. Corporate insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Benchmark cut their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. UBS Group assumed coverage on GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $118.43.

GoDaddy Stock Performance

NYSE GDDY opened at $90.84 on Tuesday. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $171.42. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $12.03 billion, a PE ratio of 14.37, a P/E/G ratio of 0.80 and a beta of 0.89. The company’s 50 day simple moving average is $85.14 and its two-hundred day simple moving average is $91.30.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. Analysts predict that GoDaddy Inc. will post 7.13 earnings per share for the current fiscal year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.