Mitsubishi UFJ Trust & Banking Corp Sells 102,712 Shares of GoDaddy Inc. $GDDY

Key Points

• Mitsubishi UFJ Trust & Banking cut its stake in GoDaddy by 33.4%, selling 102,712 shares and leaving it with 205,172 shares worth about $25.46 million (≈0.15% of the company).
• Company insiders have been net sellers recently: CFO Mark McCaffrey sold 17,406 shares and Director Leah Sweet sold 650, with insiders offloading 61,918 shares (~$5.5M) over the past 90 days.
• GoDaddy beat quarterly EPS ($1.80 vs. $1.58) on $1.27B of revenue (up 6.8% YoY), but several brokers trimmed price targets leaving a consensus "Moderate Buy" and a $123.79 target.

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,172 shares of the technology company's stock after selling 102,712 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.15% of GoDaddy worth $25,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GDDY. Sivia Capital Partners LLC increased its position in shares of GoDaddy by 90.3% during the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company's stock worth $589,000 after acquiring an additional 1,552 shares in the last quarter. Cerity Partners LLC increased its position in shares of GoDaddy by 50.0% during the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company's stock worth $4,896,000 after acquiring an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company's stock worth $28,016,000 after acquiring an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of GoDaddy during the second quarter worth about $152,000. Finally, Main Street Financial Solutions LLC increased its position in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock worth $2,185,000 after acquiring an additional 119 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In related news, Director Leah Sweet sold 650 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director directly owned 11,414 shares in the company, valued at approximately $991,420.04. This represents a 5.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 17,406 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the sale, the chief financial officer owned 113,003 shares in the company, valued at $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 61,918 shares of company stock valued at $5,500,469. 0.70% of the stock is owned by corporate insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $85.76 on Thursday. The stock has a market capitalization of $11.44 billion, a P/E ratio of 13.77, a PEG ratio of 0.78 and a beta of 0.98. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The firm's 50 day moving average is $84.87 and its 200 day moving average is $107.17. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $193.55.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.22. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.97 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on GDDY. Barclays reduced their price objective on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GoDaddy in a research report on Wednesday, January 28th. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Wells Fargo & Company reduced their price objective on shares of GoDaddy from $145.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 25th. Finally, Citigroup reduced their price objective on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and a consensus price target of $123.79.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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