Mirae Asset Global Investments Co. Ltd. Acquires 3,729 Shares of GoDaddy Inc. (NYSE:GDDY)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 11.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,239 shares of the technology company’s stock after purchasing an additional 3,729 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in GoDaddy were worth $5,809,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares in the last quarter. Whittier Trust Co. increased its holdings in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after purchasing an additional 113 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of GoDaddy by 7.6% in the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock valued at $292,000 after purchasing an additional 131 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of GoDaddy by 6.3% during the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after buying an additional 148 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Benchmark reissued a “buy” rating and set a $186.00 price target on shares of GoDaddy in a research report on Tuesday, October 15th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

Insider Activity at GoDaddy

In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at $53,084,059.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock worth $5,114,931 in the last ninety days. 0.61% of the stock is owned by company insiders.

GoDaddy Price Performance

Shares of GDDY opened at $159.94 on Tuesday. The company’s 50-day moving average is $159.26 and its 200-day moving average is $146.07. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $22.82 billion, a PE ratio of 13.28 and a beta of 1.12. GoDaddy Inc. has a fifty-two week low of $71.69 and a fifty-two week high of $167.65.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities analysts forecast that GoDaddy Inc. will post 5.07 EPS for the current year.

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.