Mitsubishi UFJ Trust & Banking Corp Acquires 10,358 Shares of GoDaddy Inc. (NYSE:GDDY)

Mitsubishi UFJ Trust & Banking Corp raised its position in GoDaddy Inc. (NYSE:GDDYGet Rating) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 90,131 shares of the technology company’s stock after buying an additional 10,358 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of GoDaddy worth $6,270,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Achmea Investment Management B.V. bought a new position in GoDaddy in the 1st quarter valued at $31,000. IndexIQ Advisors LLC bought a new position in shares of GoDaddy in the 1st quarter valued at about $37,000. Steward Partners Investment Advisory LLC grew its holdings in GoDaddy by 179.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 558 shares of the technology company’s stock worth $47,000 after purchasing an additional 358 shares during the period. Truvestments Capital LLC bought a new position in GoDaddy during the second quarter worth about $41,000. Finally, Vigilant Capital Management LLC acquired a new stake in GoDaddy during the second quarter worth approximately $41,000. 96.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler lowered their price objective on shares of GoDaddy from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Raymond James dropped their price objective on shares of GoDaddy from $100.00 to $88.00 and set a “strong-buy” rating on the stock in a report on Friday, November 4th. Barclays upped their price objective on shares of GoDaddy from $104.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. JPMorgan Chase & Co. started coverage on shares of GoDaddy in a report on Friday, November 11th. They issued an “overweight” rating and a $89.00 target price on the stock. Finally, StockNews.com assumed coverage on shares of GoDaddy in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $96.75.

Insider Activity

In other news, CFO Mark Mccaffrey sold 2,700 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $73.56, for a total transaction of $198,612.00. Following the sale, the chief financial officer now owns 82,250 shares in the company, valued at approximately $6,050,310. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Michele Lau sold 456 shares of GoDaddy stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $76.81, for a total value of $35,025.36. Following the transaction, the insider now owns 62,553 shares in the company, valued at approximately $4,804,695.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 2,700 shares of GoDaddy stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $73.56, for a total transaction of $198,612.00. Following the completion of the transaction, the chief financial officer now owns 82,250 shares in the company, valued at approximately $6,050,310. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,623 shares of company stock worth $565,393. 0.37% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

GoDaddy stock opened at $74.03 on Friday. The firm’s fifty day moving average price is $74.41 and its 200-day moving average price is $74.00. The stock has a market cap of $11.50 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. GoDaddy Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $88.32.

GoDaddy Company Profile

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GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

Further Reading

Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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