Nomura Asset Management Co. Ltd. Sells 11,592 Shares of GoDaddy Inc. (NYSE:GDDY)

Nomura Asset Management Co. Ltd. lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 14.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 70,994 shares of the technology company’s stock after selling 11,592 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in GoDaddy were worth $14,012,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after acquiring an additional 147,105 shares during the period. Geode Capital Management LLC grew its stake in shares of GoDaddy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares during the period. WCM Investment Management LLC increased its position in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Norges Bank bought a new position in shares of GoDaddy in the 4th quarter worth approximately $356,038,000. Finally, FMR LLC boosted its holdings in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,816,029 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

GoDaddy Trading Down 2.1 %

Shares of GoDaddy stock opened at $178.89 on Monday. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The business has a 50-day moving average price of $189.80 and a 200-day moving average price of $184.41. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on GDDY shares. Citigroup upped their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays boosted their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. UBS Group raised their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

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.