Sumitomo Mitsui DS Asset Management Company Ltd Has $3.80 Million Holdings in GoDaddy Inc. $GDDY

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in GoDaddy Inc. by 12.0% during the second quarter, owning a total of 21,129 shares valued at approximately $3.8 million.
• Several hedge funds have also adjusted their positions in GoDaddy, with Voya Investment Management increasing its holdings by 102.8% during the first quarter.
• GoDaddy's recent earnings report showed revenue growth of 8.3% year-over-year, surpassing estimates with earnings per share of $1.41 against an expectation of $1.34.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,129 shares of the technology company's stock after purchasing an additional 2,260 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in GoDaddy were worth $3,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. City Holding Co. grew its stake in GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares during the last quarter. Equitable Trust Co. grew its position in GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after purchasing an additional 64 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP grew its position in GoDaddy by 4.9% in the 1st quarter. Allworth Financial LP now owns 1,575 shares of the technology company's stock worth $284,000 after purchasing an additional 73 shares during the last quarter. Finally, Invst LLC grew its position in GoDaddy by 1.0% in the 4th quarter. Invst LLC now owns 7,521 shares of the technology company's stock worth $1,484,000 after purchasing an additional 74 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GDDY has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the stock an "overweight" rating in a report on Friday, August 8th. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Barclays reduced their price objective on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Raymond James Financial reduced their price objective on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Price Performance

GDDY stock traded up $3.20 during trading on Monday, hitting $147.96. 1,739,598 shares of the stock traded hands, compared to its average volume of 1,590,370. GoDaddy Inc. has a one year low of $132.51 and a one year high of $216.00. The stock has a market cap of $20.49 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.56 and a beta of 1.02. The company has a 50 day simple moving average of $152.05 and a 200 day simple moving average of $169.30. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief executive officer directly owned 406,065 shares of the company's stock, valued at $60,909,750. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Phontip Palitwanon sold 777 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $110,497.17. Following the sale, the chief accounting officer directly owned 20,421 shares of the company's stock, valued at approximately $2,904,070.41. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,828 shares of company stock valued at $5,394,638 over the last 90 days. Company insiders own 0.70% of the company's stock.

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.