Nomura Asset Management Co. Ltd. Increases Stock Holdings in GoDaddy Inc. $GDDY

Nomura Asset Management Co. Ltd. boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 14.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 86,648 shares of the technology company’s stock after buying an additional 10,631 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in GoDaddy were worth $15,602,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GDDY. Raiffeisen Bank International AG increased its stake in shares of GoDaddy by 60.6% during the 2nd quarter. Raiffeisen Bank International AG now owns 80,103 shares of the technology company’s stock valued at $14,208,000 after acquiring an additional 30,221 shares during the last quarter. Alberta Investment Management Corp increased its position in GoDaddy by 10.2% during the second quarter. Alberta Investment Management Corp now owns 21,700 shares of the technology company’s stock worth $3,907,000 after purchasing an additional 2,000 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in GoDaddy by 24.0% during the second quarter. Citizens Financial Group Inc. RI now owns 2,187 shares of the technology company’s stock worth $394,000 after purchasing an additional 423 shares during the last quarter. Creative Planning raised its stake in GoDaddy by 6.8% during the second quarter. Creative Planning now owns 21,094 shares of the technology company’s stock worth $3,798,000 after purchasing an additional 1,345 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of GoDaddy by 129.6% in the 2nd quarter. SG Americas Securities LLC now owns 92,189 shares of the technology company’s stock valued at $16,600,000 after purchasing an additional 52,030 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,950 shares of GoDaddy stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $988,359.50. Following the sale, the chief executive officer directly owned 412,065 shares of the company’s stock, valued at approximately $58,599,763.65. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the transaction, the director directly owned 19,957 shares of the company’s stock, valued at $2,656,476.27. This represents a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,553 shares of company stock worth $2,825,527 over the last three months. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GDDY shares. B. Riley dropped their price objective on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 31st. Piper Sandler set a $182.00 price target on GoDaddy and gave the stock an “overweight” rating in a research note on Friday, August 8th. Evercore ISI reduced their price objective on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company decreased their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Finally, Royal Bank Of Canada dropped their target price on shares of GoDaddy from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.14.

GoDaddy Stock Performance

GoDaddy stock opened at $124.24 on Thursday. The firm has a market capitalization of $16.79 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The stock’s 50 day moving average price is $134.96 and its 200 day moving average price is $156.30. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

About GoDaddy

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.