Mirae Asset Global Investments Co. Ltd. Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,156 shares of the technology company’s stock after acquiring an additional 3,917 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in GoDaddy were worth $8,256,000 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 the stock. Principal Financial Group Inc. boosted its stake in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at $1,132,000. CWA Asset Management Group LLC lifted its holdings in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its position in GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after buying an additional 17,021 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Up 0.1 %

Shares of NYSE:GDDY opened at $211.14 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $107.92 and a 12-month high of $216.00. The business has a 50 day moving average of $203.90 and a two-hundred day moving average of $177.29. The company has a market capitalization of $29.64 billion, a PE ratio of 16.32 and a beta of 1.15.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group raised their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Raymond James boosted their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.53.

Insider Activity

In other news, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares in the company, valued at $16,758,197.66. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,983 shares of company stock valued at $4,983,133 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.