share_log

GoDaddy Inc. (NYSE:GDDY) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Defense World ·  Sep 22, 2022 04:21

Mirae Asset Global Investments Co. Ltd. decreased its position in GoDaddy Inc. (NYSE:GDDY – Get Rating) by 20.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,837 shares of the technology company's stock after selling 22,113 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.05% of GoDaddy worth $7,101,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Starboard Value LP acquired a new position in GoDaddy during the 4th quarter valued at approximately $576,318,000. Wellington Management Group LLP boosted its position in GoDaddy by 28.5% during the 1st quarter. Wellington Management Group LLP now owns 13,754,555 shares of the technology company's stock valued at $1,151,257,000 after purchasing an additional 3,052,975 shares during the period. Capital International Investors boosted its position in GoDaddy by 11.6% during the 4th quarter. Capital International Investors now owns 15,042,125 shares of the technology company's stock valued at $1,276,275,000 after purchasing an additional 1,569,106 shares during the period. JPMorgan Chase & Co. boosted its position in GoDaddy by 1,429.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,291,216 shares of the technology company's stock valued at $108,074,000 after purchasing an additional 1,206,794 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in GoDaddy by 108.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company's stock valued at $116,903,000 after purchasing an additional 727,582 shares during the period. Institutional investors and hedge funds own 96.50% of the company's stock.

Get GoDaddy alerts:

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 1,991 shares of GoDaddy stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total value of $139,091.26. Following the transaction, the chief executive officer now directly owns 220,544 shares in the company, valued at approximately $15,407,203.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 1,991 shares of GoDaddy stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $69.86, for a total transaction of $139,091.26. Following the transaction, the chief executive officer now owns 220,544 shares in the company, valued at $15,407,203.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nick Daddario sold 600 shares of GoDaddy stock in a transaction on Monday, August 15th. The shares were sold at an average price of $82.00, for a total value of $49,200.00. Following the transaction, the chief accounting officer now owns 15,608 shares in the company, valued at approximately $1,279,856. The disclosure for this sale can be found here. Insiders have sold 22,431 shares of company stock worth $1,613,907 in the last three months. 0.37% of the stock is currently owned by insiders.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $73.32 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 46.37. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 35.42 and a beta of 0.93. The stock's fifty day simple moving average is $76.44 and its 200 day simple moving average is $76.55. GoDaddy Inc. has a 52-week low of $64.81 and a 52-week high of $88.32.

GoDaddy (NYSE:GDDY – Get Rating) last issued its earnings results on Wednesday, August 3rd. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. GoDaddy had a negative return on equity of 147.44% and a net margin of 8.58%. As a group, sell-side analysts forecast that GoDaddy Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GDDY shares. Morgan Stanley boosted their price objective on GoDaddy from $91.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, August 4th. Raymond James cut their target price on GoDaddy from $108.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Thursday, August 4th. Evercore ISI lifted their target price on GoDaddy to $91.00 in a research note on Tuesday, August 9th. Jefferies Financial Group cut their target price on GoDaddy from $110.00 to $100.00 in a research note on Tuesday, May 31st. Finally, Barclays lifted their target price on GoDaddy from $104.00 to $107.00 and gave the company an "overweight" rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $100.75.

GoDaddy Profile

(Get Rating)

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.

Read More

  • Get a free copy of the StockNews.com research report on GoDaddy (GDDY)
  • The Worst May be Over for Target, But is the Stock Safe to Buy?
  • Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
  • Two Fun Stocks The Insiders Are Buying
  • Novavax Remains a Risk-On Stock in a Risk-Off Market
  • General Mills: Superior Returns With Less Volatility

Receive News & Ratings for GoDaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoDaddy and related companies with MarketBeat.com's FREE daily email newsletter.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment