GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Posted by Defense World Staff on Aug 12th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 11.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,230 shares of the technology company’s stock after buying an additional 5,615 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in GoDaddy were worth $4,137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GDDY. Vanguard Group Inc. boosted its holdings in GoDaddy by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares in the last quarter. Starboard Value LP boosted its holdings in GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after purchasing an additional 1,973,118 shares in the last quarter. Morgan Stanley boosted its holdings in GoDaddy by 517.4% in the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after purchasing an additional 5,133,332 shares in the last quarter. State Street Corp boosted its holdings in GoDaddy by 2.3% in the first quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock valued at $329,900,000 after purchasing an additional 90,041 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in GoDaddy by 11.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,132,628 shares of the technology company’s stock valued at $159,563,000 after purchasing an additional 214,222 shares in the last quarter. 93.73% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock opened at $70.67 on Friday. GoDaddy Inc. has a 12 month low of $64.65 and a 12 month high of $85.32. The business has a 50 day simple moving average of $74.45 and a 200-day simple moving average of $75.43. The stock has a market capitalization of $10.92 billion, a PE ratio of 34.14 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GDDY shares. Royal Bank of Canada started coverage on GoDaddy in a report on Monday, June 5th. They issued a “sector perform” rating and a $80.00 price target for the company. Barclays decreased their price objective on GoDaddy from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, August 4th. B. Riley began coverage on GoDaddy in a report on Wednesday, June 28th. They issued a “buy” rating and a $102.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of GoDaddy in a report on Tuesday, August 1st. Finally, StockNews.com began coverage on GoDaddy in a report on Thursday, May 18th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

View Our Latest Analysis on GDDY

Insider Transactions at GoDaddy

In other news, CAO Nick Daddario sold 341 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $75.37, for a total transaction of $25,701.17. Following the completion of the sale, the chief accounting officer now owns 20,722 shares in the company, valued at $1,561,817.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 341 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.37, for a total value of $25,701.17. Following the completion of the transaction, the chief accounting officer now owns 20,722 shares in the company, valued at $1,561,817.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 812 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.37, for a total value of $61,200.44. Following the completion of the transaction, the chief financial officer now owns 92,609 shares of the company’s stock, valued at approximately $6,979,940.33. The disclosure for this sale can be found here. Insiders sold 21,553 shares of company stock worth $1,620,723 over the last 90 days. 0.54% of the stock is currently owned by insiders.

GoDaddy Profile

(Free Report)

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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.