MUFG Securities EMEA plc Grows Holdings in GoDaddy Inc. (NYSE:GDDY)

Key Points

• MUFG Securities EMEA plc increased its stake in GoDaddy Inc. by 88% in the first quarter, now owning 47,000 shares valued at approximately $8.47 million.
• In recent insider trading, CEO Amanpal Singh Bhutani sold 6,000 shares, reducing his ownership by 1.41%, while CFO Mark McCaffrey also sold shares, indicating a slight decrease in insider holdings.
• GoDaddy's stock has experienced fluctuations, with recent earnings showing a net margin of 17.01% and revenue growth of 8.3% year-over-year, despite a trading drop of 11.2% recently.

MUFG Securities EMEA plc boosted its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 88.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,000 shares of the technology company's stock after purchasing an additional 22,001 shares during the period. MUFG Securities EMEA plc's holdings in GoDaddy were worth $8,467,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC grew its stake in GoDaddy by 15.9% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock worth $402,000 after acquiring an additional 293 shares in the last quarter. Sowell Financial Services LLC bought a new position in GoDaddy in the 1st quarter worth about $291,000. DAVENPORT & Co LLC grew its stake in GoDaddy by 7.7% in the 1st quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock worth $354,000 after acquiring an additional 141 shares in the last quarter. Optimist Retirement Group LLC grew its stake in GoDaddy by 5.8% in the 1st quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company's stock worth $274,000 after acquiring an additional 84 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in GoDaddy by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock worth $1,060,000 after acquiring an additional 699 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY traded up $4.61 during trading on Tuesday, hitting $140.38. The company had a trading volume of 3,411,692 shares, compared to its average volume of 1,565,968. The stock has a fifty day simple moving average of $170.51 and a two-hundred day simple moving average of $178.98. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The firm has a market capitalization of $20.00 billion, a price-to-earnings ratio of 25.07 and a beta of 1.08. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $1.01 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total transaction of $169,590.00. Following the transaction, the chief operating officer directly owned 253,949 shares in the company, valued at approximately $43,067,210.91. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 625 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the transaction, the chief financial officer owned 73,459 shares in the company, valued at $13,008,119.72. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,257 shares of company stock valued at $5,827,280. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley cut their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the stock an "overweight" rating in a research note on Friday. Finally, Barclays dropped their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

GoDaddy 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.