MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 2,615 Shares of GoDaddy Inc. (NYSE:GDDY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,137 shares of the technology company's stock after purchasing an additional 2,615 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in GoDaddy were worth $7,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after acquiring an additional 3,356,678 shares during the period. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $356,038,000. Canada Pension Plan Investment Board lifted its position in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after acquiring an additional 719,000 shares during the period. Congress Asset Management Co. acquired a new stake in GoDaddy during the fourth quarter worth about $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock valued at $213,630,000 after buying an additional 507,374 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the sale, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, the chief operating officer now directly owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,526 shares of company stock valued at $10,243,716 in the last three months. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GDDY shares. Royal Bank of Canada cut their price target on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Barclays lowered their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Piper Sandler raised their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Citigroup decreased their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Trading Down 0.9%

Shares of GoDaddy stock traded down $1.62 on Tuesday, hitting $188.26. The stock had a trading volume of 1,126,799 shares, compared to its average volume of 1,479,951. The stock has a 50 day moving average of $179.11 and a 200 day moving average of $189.30. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a twelve month low of $135.73 and a twelve month high of $216.00. The firm has a market capitalization of $26.82 billion, a P/E ratio of 29.19 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.76 earnings per share. Sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

About GoDaddy

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.