Sumitomo Mitsui Trust Group Inc. Has $72.29 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui Trust Group Inc. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 366,263 shares of the technology company’s stock after selling 6,994 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of GoDaddy worth $72,289,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently commented on GDDY. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.53.

GoDaddy Price Performance

NYSE:GDDY opened at $211.14 on Monday. The firm has a market capitalization of $29.64 billion, a price-to-earnings ratio of 16.32 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average of $204.17 and a 200 day moving average of $178.19. GoDaddy Inc. has a 52-week low of $107.92 and a 52-week high of $216.00.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,483 shares of company stock valued at $4,893,633. 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.