Mirae Asset Global Investments Co. Ltd. Has $5.03 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Mirae Asset Global Investments Co. Ltd. decreased its position in GoDaddy Inc. (NYSE:GDDY) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,406 shares of the technology company’s stock after selling 390 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in GoDaddy were worth $5,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares during the period. Achmea Investment Management B.V. bought a new stake in GoDaddy in the first quarter valued at $31,000. UMB Bank n.a. bought a new stake in GoDaddy in the fourth quarter valued at $50,000. Quent Capital LLC increased its stake in GoDaddy by 2,113.6% in the third quarter. Quent Capital LLC now owns 487 shares of the technology company’s stock valued at $36,000 after purchasing an additional 465 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in GoDaddy in the third quarter valued at $43,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Down 1.5 %

Shares of GDDY stock opened at $121.42 on Tuesday. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The company has a 50-day simple moving average of $116.78 and a two-hundred day simple moving average of $102.12. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 12.67 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Research analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. B. Riley boosted their target price on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. Finally, Barclays boosted their target price on shares of GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.18.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the sale, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $118.56, for a total transaction of $474,240.00. Following the completion of the transaction, the chief operating officer now owns 204,632 shares in the company, valued at $24,261,169.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,234 shares of company stock valued at $13,534,946. Corporate insiders own 0.54% of the company’s stock.

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.